Dennis Porter, founder and chairman of the 501(c)(4) non-profit Satoshi Action Fund, revealed important developments in Bitcoin regulations at the US state level. On December 7, via X, he announced, “The 14th District is now ready to introduce a ‘Strategic Bitcoin Reserve’ law.”
Earlier, Porter revealed that he was working with 13 different states on proposals to establish a Strategic Bitcoin Reserve (SBR). Notably, Porter has been instrumental in helping several states pass pro-Bitcoin laws in the past, as well as his ongoing lobbying efforts to establish SBR’s in several US states.
When will the US States establish a Bitcoin Reserve?
Porter explained that many people have asked him, “when will the ‘Strategic Bitcoin Reserve’ legislative process begin at the federal level,” prompting him to outline a detailed roadmap that he expects many states to follow. According to him, the proposed bill can come from the State House or the Senate; once formally introduced, it must pass a preliminary hearing before a small group of lawmakers who decide whether to move forward.
A simple majority is usually required at that hearing for a bill to advance to a floor vote in the same house of the legislature. If it receives a small majority on that floor vote, it moves on to the second chamber, where lawmakers again hold a hearing followed by a chamber-wide vote.
If a bill passes the second chamber, it is then sent to the Governor’s desk for signature or a vote. Porter emphasized that “If the Governor signs this bill, then the law is the law:” He added: “It is full of landmines that could kill the bill at any time,” emphasizing the weakness of the process and the importance of continuous representation. efforts.
Porter shared that legislative sessions in many states will begin this month, explaining that “In many states the process begins this month. Additionally, in many states, the legislative cycle ends quickly. Most states are temporary legislatures. So a lot of work will happen very quickly in the next six months.”
In interim legislatures, state lawmakers meet for short periods, usually a few months long. This compressed system means that any proposal on the table faces a fixed period of discussion, negotiation, and votes, providing limited windows for success or failure.
Porter called these deadlines “a compulsive way of doing things,” saying, “The advantage of working at the federal level is that there are fast and hard deadlines. The bill sinks or swims quickly.” He said, by summer, most states will have implemented Bitcoin reserve or not, given the shortness and discretion of the legislative cycle in those particular areas.
However, Porter also noted that not all states operate under the same time limits. Others, such as Ohio and Pennsylvania, have year-round legislatures, meaning there is more time to advance legislation or amend proposals. Although flexible, these extended cycles can delay the final result.
Porter pointed out that the multistate effort creates this diversity by simultaneously working on the same or nearly identical bills, with each state’s legislature proceeding at its own pace. This approach, he suggested, “greatly increased the likelihood that we would get serious legislation like the Strategic Bitcoin Reserve across the board,” as the success of one bill could build momentum or provide lessons for others.
At press time, BTC traded at $101,618.
Featured image from YouTube, chart from TradingView.com