Illinois proposes Bitcoin reserve bill, requiring holding period of at least 5 years

Illinois State Representative John Cabello has proposed the HB1844 bill, which suggests establishing a strategic Bitcoin reserve fund in the state's treasury department. The bill stipulates that Bitcoin must be held for at least 5 years after entering the state government's custody before it can be transferred, sold, or converted to other cryptocurrencies. The bill has been submitted to the Rules Committee and is awaiting final approval by lawmakers.