Illinois Advances Bitcoin Strategic Reserve Bill with Minimum 5-Year Holding Period

Illinois has proposed a bill to create a strategic Bitcoin reserve as a financial asset. The bill suggests a minimum five-year holding strategy for Bitcoin after its creation, with the state treasury allowed to transfer, sell, appropriate, or convert to another cryptocurrency any Bitcoin in the fund after the holding period. The bill has been referred to the Rules Committee for final regulatory details and full approval by lawmakers. This move by Illinois is a step towards integrating cryptocurrency into traditional finance, but nationwide approval may be slower depending on regulatory clarity and market stability.