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Utah proposes bill to invest public funds in crypto

The proposed legislation in Utah allows the state treasurer to invest up to 10% of funds from various accounts in digital assets. To qualify, these assets must have a market capitalization of over 500 billion USD or comply with strict regulations for stablecoins.

Security measures in the bill require that private keys are stored in encrypted environments, ensuring robust protection. Additionally, the legislation upholds the rights of individuals to manage their digital assets through self-custody options.

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