S1967

Massachusetts Senate Bill 1967 (introduced January 13, 2025 by Sen. Peter Durant) establishes a “Commonwealth Bitcoin Strategic Reserve” to be managed by the state treasurer. The bill authorizes investment of unexpended state funds, up to 10% of annual Stabilization Fund deposits, into Bitcoin or other digital assets, and also allows the reserve to hold digital assets seized by the state. It sets strict requirements for secure custody and qualified custodians, ensuring that assets are protected through multi-party governance, encrypted environments, geographically diversified data centers, and regular audits. Assets may be held directly by the treasurer, via qualified custodians, or through regulated exchange-traded products. The treasurer is also permitted to loan Bitcoin or digital assets if it can be done without increasing financial risk, in order to generate additional returns for the Commonwealth