Crypto: Kansas Bill Would Create State-managed Bitcoin And Digital Assets...

The proposal would fund the reserve with unclaimed crypto and staking rewards rather than direct state Bitcoin purchases.

Lawmakers in the US state of Kansas are considering a bill that would create a state-managed Bitcoin and digital assets reserve fund funded through unclaimed property rather than direct purchases of cryptocurrency.

​Kansas Senate Bill 352, introduced by Senator Craig Bowser on Wednesday, would establish a “Bitcoin and digital assets reserve fund” in the state treasury, administered by the state treasurer.

The fund would consist of airdrops, staking rewards and interest earned on abandoned digital assets held under Kansas’ unclaimed property law.

It would include cryptocurrencies and “other digital-only assets,” rather than any direct purchases of Bitcoin (BTC) by the state, broadly mirroring the White House’s decision to fund a US Strategic Bitcoin Reserve with forfeited BTC instead of buying coins on the open market.

Under the bill, 10% of each deposit of digital assets into the reserve fund must be credited to the state’s general fund, but Bitcoin itself would be kept out of the general fund.

​SB 352 also amends Kansas’ unclaimed property statutes to define “digital assets” and “airdrops,” and to spell out how the state treats such assets when they are considered abandoned.

The bill was referred to the Committee on Financial Institutions and Insurance on Thursday after moving from the Federal and State Affairs Committee.

The new bill follows earlier Kansas proposals, such as Senate Bill 34, which would allow the Kansas Public Employees Retirement System to allocate up to 10% of its assets to spot Bitcoin exchange-traded funds (ETFs).

SB 34 was introduced in January 2025 and remains in the Senate Committee on Financial Institutions and Insurance.

Source: CoinTelegraph