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South Dakota Proposes Bill to Permit State Bitcoin Investments

South Dakota Proposes Bill to Permit State Bitcoin Investments

State Representative Logan Manhart’s reintroduced bill seeks to allow up to 10% of South Dakota’s public funds to be invested in Bitcoin, reflecting wider state-level crypto adoption efforts.

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Fact Check
The assessment is primarily based on a single, highly credible and relevant source. The 'Crypto Currently: Crypto News Center' from the law firm WilmerHale (Authority: 0.90, Relevance: 1.00) directly supports the statement by identifying a specific piece of legislation, South Dakota HB-1196, and describing its purpose as authorizing state investment in digital assets. This is strong, direct evidence.While several other sources discuss different cryptocurrency-related bills in South Dakota (specifically regarding the regulation of crypto ATMs or kiosks), they do not contradict the existence of HB-1196. They simply address a separate legislative issue within the same topic area. The majority of the provided sources are irrelevant as they pertain to other states or unrelated federal matters. There is no conflicting evidence among the relevant sources. The high authority and direct relevance of the primary supporting source, combined with the absence of contradictory information, makes the statement very likely to be true.
Summary

On January 27, South Dakota Representative Logan Manhart reintroduced House Bill 1155, which would authorize the state’s investment council to allocate up to 10% of public funds into Bitcoin. This measure would amend current investment laws to include cryptocurrency holdings and aligns South Dakota with a growing number of states exploring Bitcoin for public fund management. The revival of the bill mirrors similar initiatives in Texas, Arizona, and New Hampshire, underscoring increasing legislative interest in digital asset adoption for state portfolios.

Terms & Concepts
  • Bitcoin: A decentralized digital currency secured by blockchain technology, allowing value transfer without reliance on a central authority or intermediary.