A new proposal in Kansas aims to establish a government-held reserve of Bitcoin
and other digital assets, but without the state purchasing any cryptocurrency.
Instead, the plan would rely on unclaimed digital property already under state control.
The proposal, known as Senate Bill 352, was introduced by Senator Craig Bowser. It outlines the creation of a “Bitcoin and digital assets reserve fund” within the state treasury, managed by the state treasurer.
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The bill has been moved to the Committee on Financial Institutions and Insurance for further discussion.
The reserve would be built from abandoned or unclaimed digital property collected under Kansas’ existing unclaimed property law. These assets could include cryptocurrencies, staking rewards, airdrops, and any interest earned while in state custody.
The bill also allows for the inclusion of other “digital-only assets”, which extends the scope beyond just Bitcoin.
According to the draft, 10% of every digital asset deposit must be transferred to the general fund, though the Bitcoin itself would remain separate and not be used for general expenditures.
SB 352 also updates definitions within Kansas’ unclaimed property laws. It introduces legal recognition for terms such as “digital assets” and “airdrops”, and provides guidance on how the state should handle these assets once they are considered abandoned.
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