FX168 Finance News (Asia-Pacific) reports that USA President Trump vowed to establish a Bitcoin Strategic Reserve (SBR). According to the Bitcoin Strategic Reserve tracking heat map across states in the USA, the western states of Arizona and Utah are considering strategic reserve bills, while multiple central states are accelerating their bill proposals. However, North Dakota has clearly rejected the idea.

Data shows that currently, there are 19 states in the USA that are establishing Bitcoin strategic reserves, 2 are considering legislation, and 1 has explicitly refused, but none have truly passed it.

(Source: Bitcoin Reserve Monitor)

CoinTelegraph reports that the legislation in Arizona and Utah has exceeded the level of the House committee.

Asset Management company VanEck states that if all proposed bills are passed, it could drive an increase in demand for Bitcoin by 23 billion dollars.

According to data from BitcoinTreasuries.NET, over 100 public entities, including governments and private companies, have also started accumulating Bitcoin, citing its utility as a hedge against inflation.

(Source: BitcoinTreasuries.NET)

Focusing on domestic dynamics in the USA, New York Senator James Sanders Jr. introduced the "New York State Cryptocurrency and Blockchain Research Bill" on Tuesday (February 12), aiming to establish a 17-member working group to investigate the impact of the widespread use of "Cryptos and other forms of Digital Currency and their supporting systems."

According to the description of the bill on the New York State Senate website, as part of the investigation, the working group will examine the state of Cryptos in New York, determine how many Digital Currencies are being traded, the number of Exchanges in New York, and how Cryptos affect state and local taxes.

(Source: New York State Senate)

The working group will also investigate the environmental impact of Cryptos, energy consumption, and compare New York's current regulations with those of other jurisdictions as priorities.

If the bill is passed, the working group members will be appointed no later than 90 days and are expected to submit the investigation report to the Governor of New York and the legislature by December 15, 2027.

The report also "suggests legislative and regulatory measures to enhance transparency, security, Consumer protection, and address the long-term implications of using Cryptos."

The bill has just been introduced and is currently under committee review. To successfully obtain the Governor's signature to become law, it needs to pass through debates and votes in the Assembly and the Senate.

New York is regarded as a hotbed for the Industry of Cryptos, but its BitLicense program launched in 2015 has been criticized by the industry and New York City Mayor Eric Adams for being overly restrictive.

To operate in New York, Crypto businesses need to obtain a BitLicense issued by the New York Department of Financial Services.

However, critics are targeting its complex and expensive requirements, such as high licensing fees and strict adherence to anti-money laundering and Know Your Customer (KYC) regulations.