The bill authorizes the investment of state funds and permanent funds in Bitcoin, establishing specific requirements and guidelines for such investments. It creates a new section, W.S. 9-4-722, which defines key terms related to Bitcoin, including "Bitcoin," "exchange-traded product," "private key," "qualified custodian," and "secure custody solution." The state treasurer is permitted to invest up to three percent of the general fund, the permanent Wyoming mineral trust fund, and the permanent land fund in Bitcoin, with provisions for secure custody and governance of these digital assets. Additionally, the bill mandates that the state treasurer report annually on the performance and security of these investments.

The bill also amends W.S. 9-4-714(a)(viii) to include the newly created section in the definition of "this act." It requires the state treasurer to develop rules necessary for the implementation of the act and specifies that the act will take effect immediately upon completion of all legislative processes required for a bill to become law.

Statutes affected:
Introduced: 9-4-714