Kansas Eyes Bitcoin for State Treasury

Kansas is looking at a new way to handle digital money. Lawmakers there want to create a special fund for Bitcoin and other digital assets. This isn't just about holding onto these assets but also about managing and growing them. The idea is to update old laws about unclaimed property. Right now, if someone doesn't claim their Bitcoin after three years, it could go to the state. But there's a catch: this only applies to Bitcoin held by companies like exchanges, not those kept in personal wallets.Once the state gets these unclaimed assets, they won't just sell them off. Instead, they might stake them to earn more or hold onto them as a long-term investment. This is a big deal because it treats Bitcoin differently from other state funds. The bill also sets rules for selling these assets. If a cryptocurrency is traded on big exchanges, it should be sold at market price. For those that aren't, other fair methods can be used. The goal is to avoid causing big swings in the market. This move isn't just about making money. It's about integrating digital assets into the state's financial strategy. If passed, Kansas would join other states exploring how to use Bitcoin and other digital assets in the long run.