Bill > HB51

This bill, the Strategic Digital Asset Reserve Act of Maryland, establishes a new fund for the state to hold and invest seized money, specifically allowing for investment in cryptocurrency. It amends existing law to direct money seized in connection with certain gambling offenses, when forfeited to the state, to be deposited into a newly created "Maryland Digital Asset Reserve Fund." This fund will be administered by the State Treasurer and is intended to serve as a reserve asset for the state through investment in cryptocurrency, defined as a decentralized digital asset with a market capitalization of at least $500 billion. The bill also clarifies that interest earned on this fund will not accrue to the General Fund, unlike most other state special funds, and specifies that cryptocurrency acquired for the fund will be held by the State Treasurer or a qualified custodian. The provisions of this act are set to take effect on October 1, 2026.

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https://mgaleg.maryland.gov/mgawebsite/Legislation/Details/HB0051?ys=2026RS