Bill > HB0201

This bill authorizes the Wyoming State Treasurer to invest state funds, including the general fund, permanent Wyoming mineral trust fund, and permanent land fund, in Bitcoin, with a strict limit of 3% investment for each fund. The bill provides detailed definitions for terms like Bitcoin, exchange-traded products, and secure custody solutions, which include specific technological and security requirements such as encrypted private keys, geographically diversified data centers, multi-party governance structures, and regular security audits. The state treasurer can invest in Bitcoin directly through a secure custody solution, via a qualified custodian, or by owning an exchange-traded product registered under federal investment advisor regulations. If Bitcoin investments exceed the 3% limit due to market appreciation, the treasurer is not required to sell but cannot make additional investments until the percentage falls back within limits. The bill also mandates that the state treasurer provide an annual report to legislative committees detailing Bitcoin investment performance, custody arrangements, cost basis, market value, and any Bitcoin-related transactions. Importantly, the bill requires the state treasurer to develop comprehensive rules for implementing these Bitcoin investment procedures, reflecting Wyoming's progressive approach to integrating cryptocurrency into state financial operations.