TechFlow news — On December 18, according to Cointelegraph, Ohio House Republican leader Derek Merrin introduced House Bill 703 (HB 703) on December 17. Tentatively named the "Ohio Bitcoin Reserve Act," the bill would authorize the state treasurer to purchase bitcoin as part of an "appropriate asset allocation," though it does not require such purchases.
"The dollar is rapidly losing value, and our state treasurer should have the authority and flexibility to invest in bitcoin when determining appropriate asset allocation," Merrin said in a statement. "Ohio must embrace technology and protect taxpayer dollars from erosion."
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