State Model Policy

A piece of legislation that authorizes the state treasurer to invest a limited portion of public funds in Bitcoin and stablecoins to protect taxpayer funds from inflation and currency debasement, while strengthening long‑term financial resilience.

The Act establishes clear limits on allocations, requires secure custody standards, and permits responsible use of digital assets to generate additional value, ensuring prudent management and safeguarding of public funds.

Provides the foundational definitions and authorisations that enable private digital currency to be held and used for purchases and self‑custody without additional state taxes or charges, while also establishing uniform rules for home mining and industrial mining of digital assets across the state, thereby integrating blockchain terminology and usage into the broader legislative framework and ensuring consistent treatment in taxation and zoning matters.

The Legislature finds that digital assets are increasingly held, transferred, and abandoned in forms that differ materially from traditional financial property.

Existing unclaimed property frameworks must be modernized to ensure consumer protection, technological neutrality, and responsible stewardship by the state.

The Legislature further finds that the state may deploy certain digital assets it holds to generate additional value through protocol‑level mechanisms, including staking, provided these activities are conducted under prudent risk management standards and do not impair the state's security, liquidity, or primary custodial obligations

The Virtual Currency Kiosk Consumer Access and Protection Act establishes a framework for regulating virtual currency kiosks, including definitions of key terms such as “digital asset” and “fiat currency,” and outlines the responsibilities of kiosk operators to provide clear disclosures on their interfaces (e.g., fees, exchange rates, and notices about transaction irrevocability).

A piece of legislation that authorizes banks and credit unions to custody digital assets on behalf of customers and provide related services, including staking and fiduciary transaction execution.

It establishes a full‑reserve custody framework, requires segregation and clear ownership of customer assets, and permits both fiduciary and non‑fiduciary service models.

The Act also imposes strict requirements for disclosures, independent audits, cybersecurity, anti‑money laundering compliance, and regulatory supervision, ensuring that digital asset services are conducted safely, transparently, and in alignment with existing banking standards