SB557 proposes the creation of a Commonwealth Strategic Cryptocurrency Reserve Fund to invest in Bitcoin and other digital assets, passing the Senate General Laws and Technology Committee 13-2.
Virginia's SB557 has cleared the Senate General Laws and Technology Committee in a 13-2 vote, moving forward legislation to establish the Commonwealth Strategic Cryptocurrency Reserve Fund. The fund would allow the state to invest in Bitcoin and various other digital assets, signaling potential state-level adoption of cryptocurrency as part of strategic reserves.