Alabama Moves Toward Bitcoin Investment with New Bill
- A new bill (HB482) has been introduced by the Alabama House of Representatives to create a new approach for the states investment strategy to include Bitcoin as well as other digital assets.
- There is support for House Bill 482 in the state from the Republicans and Democrats, as the bill seeks to incorporate digital asset investments into the states economic plan.
- If passed into law, this legislation could put Alabama at the forefront of cryptocurrency adoption.
On March 31st, 2025, House Bill 482 (HB482) was introduced in The Alabama House of Representatives. HB482 is an important legislation that would let The Alabama State Treasurer spend the money of Alabama in digital assets such as Bitcoin.
According to the bill, the State Treasurer cannot invest more than 10 percent of the fund balance in digital assets only if such assets meet specific criteria. For instance, such investments can be made only through exchange-traded products (ETFs) or digital assets, which, for the past year, have an average market value of at least $750 billion.
These assets will remain within government control and kept highly secured by them. In addition, the assets need to be spread in different secured places to ensure that there are no cyber threats to them.
The bill also requires that risks are assessed and that all regulations are followed on a regular basis to ensure optimal security of these assets.
Alabamas Crypto Decision: What This Means for Bitcoin and the Crypto Industry
HB482 would go into effect on October 1, 2025, affording the state time to establish the necessary regulatory and investment tools to purchase Bitcoin and possibly other digital assets. The bill will be reviewed by the House Ways and Means General Fund Committee before it advances.
Policymakers, financial experts, and the public will be keenly interested in how Alabama integrates Bitcoin and other cryptocurrencies into its financial sphere. Even though US states like Pennsylvania, Wyoming, and Montana have suspended or halted their Bitcoin plans, Alabama, South Carolina, Oklahoma, Utah, Arizona, and Minnesota are taking advanced steps towards their Bitcoin investment plans.
Read more: https://www.tronweekly.com/alabama-moves-toward-bitcoin-investment/
Text source: TronWeekly
