As 2024 is anticipated to be a pivotal year for institutional cryptocurrency acceptance, attention is drawn towards what 2025 might hold. Recent news from the United States and Kenya is sparking excitement among stakeholders, particularly with the increasing discussions surrounding cryptocurrency regulations and Bitcoin $83,792 reserves.
Plans for Bitcoin Reserves in U.S. States
New Hampshire State Representative Keith Ammon has proposed a law that would allow the state treasury to invest in cryptocurrencies. This legislation permits the treasury to include up to 10% of its assets in Bitcoin and selected stablecoins.
“A law has been proposed to create a strategic Bitcoin reserve.”
— Keith Ammon, New Hampshire State Representative
While Bitcoin may serve as the primary asset in this strategic reserve, other cryptocurrencies with significant market value and regulatory transparency could also be included.
North Dakota Aims to Invest in Digital Assets
North Dakota plans to add Bitcoin and other digital assets to its reserves. Last week, the state introduced “Resolution 3001,” aiming to diversify investments in precious metals and digital assets.
“Changing economic conditions and new investment opportunities require careful investment of state financial resources.”
— Resolution 3001
This initiative illustrates how the current economic environment is adapting to changes, gaining support from 11 backers.
Kenya Prepares to Legalize Cryptocurrencies
Kenya is moving away from its historically cautious stance on cryptocurrencies, focusing on developing comprehensive regulations. Finance Minister John Mbadi has initiated a draft policy addressing security concerns for virtual assets.
“The Kenyan government is determined to establish the necessary legal and regulatory framework to evaluate the opportunities and manage the risks of virtual assets.”
— John Mbadi, Kenyan Finance Minister
With a population of 55 million, Kenya has begun adopting a more nuanced approach to the crypto sector, conducting a policy study in December 2024 involving virtual asset service providers.
These developments indicate a growing integration of cryptocurrencies into traditional financial systems, both in various U.S. states and in Africa. Monitoring the potential impacts of these steps on the economy, as well as their roles in international cryptocurrency regulations, is crucial for stakeholders.