Georgia proposes a new bill to allow unlimited state financial investment in Bitcoin

According to Cointelegraph, the Georgia State Senate has proposed Bill No. 228 (SB 228), intending to amend Section 3 of Chapter 17 of Title 50 of the state code regarding state depository institutions, authorizing the State Depository Committee to allow the State Treasury Department to invest in Bitcoin. The bill requires the State Treasury Department to develop policies and procedures for receiving, storing, and trading Bitcoin and stipulates that Bitcoins held by the state government must be executed according to these policies. The bill was jointly proposed by Senator Esteves from District 35 and four other senators and is currently awaiting review at the Georgia General Assembly.