PANews, December 18 - Derek Merrin, a representative from Ohio, introduced Bill No. 703 (Ohio Bitcoin Reserve Act), proposing the establishment of a Bitcoin reserve fund in the state treasury and authorizing the state treasurer to invest in Bitcoin flexibly, but not mandating it. Merrin pointed out that the U.S. dollar is rapidly depreciating, and Bitcoin can serve as a tool to protect tax revenue and enhance the state's finances. This legislation provides a framework for the state government to utilize Bitcoin technology to address economic challenges and promote innovation. Similar bills have been proposed in Texas and Pennsylvania, aiming to establish state-level Bitcoin reserves.
