First States OK Crypto Reserves, AL’s Genetic Data Theft Bill & More

NH, AZ Authorize Crypto Reserves

Two months after President Trump signed an executive order establishing a federal strategic bitcoin reserve and digital asset stockpile, New Hampshire and Arizona have become the first two states to enact legislation providing for the creation of their own cryptocurrency reserves. The bill (HB 302) signed by New Hampshire Gov. Kelly Ayotte (R) allows the state’s treasurer to invest up to 5% of public funds in digital currencies with market caps over $500 billion, a criteria which only bitcoin currently meets.

Arizona Gov. Katie Hobbs (D) vetoed a bill (SB 1025) that would have allowed that state to invest public funds in cryptocurrencies, but she signed a measure (HB 2749) authorizing the creation of a Bitcoin reserve fund using unclaimed digital assets the state already has in its possession.

More than a dozen other states are considering bills dealing with crypto reserves. (PLURIBUS NEWS, LEXISNEXIS STATE NET)

Genetic Data Theft Bill Nears Passage in AL

The Alabama Senate’s Judiciary Committee approved a bill (HB 449), already passed by the House, that would make it a crime to transfer someone’s genetic material or genetic information to another party without the individual’s consent. The measure’s sponsor, Rep. Ben Robbins (R), said it would apply to organizations that collect genetic information but aren’t medical providers, including 23andMe, which has filed for bankruptcy last month and is looking to sell its assets. (ALABAMA REFLECTOR, LEXISNEXIS STATE NET)

Google Agrees to $1.4B Data Privacy Settlement with TX

Google agreed to pay Texas nearly $1.4 billion to settle allegations it unlawfully collected the private data of Texas residents. The agreement comes less than a year after Texas Attorney General Ken Paxton (R) obtained a $1.4 billion settlement from Facebook and Instagram parent company Meta over claims it used the biometric data of Texas residents without authorization. (CNBC)

CO Lawmakers Fail to Tweak AI Law

Days before the end of Colorado’s legislative session this month, the Senate Business, Labor and Technology Committee rejected a bill (SB 318) aimed at revising the state’s expansive new AI law to address concerns raised by the tech industry. Tech companies say the law, passed last year, will stifle innovation and place too much of an administrative burden on businesses that use AI. The state could convene a special session to address the issue before the law takes effect on Feb. 1 next year. (COLORADO SUN, LEXISNEXIS STATE NET)

—Compiled by SNCJ Managing Editor KOREY CLARK

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