The Utah House of Representatives has passed HB 230, also known as the Blockchain and Digital Innovation Amendments, marking a significant step towards the state's investments in digital assets.

The bill allows Utah to allocate up to 5% of public funds to qualifying digital assets and was passed by a narrow 38-34 vote.

Presented by State Representative Jordan Teuscher, the bill now heads to the Senate for further consideration.

It stirred debates, with Dennis Porter affirming it aids Bitcoin, whereas critiques suggest it favors stablecoins.

With similar legislation in Arizona, the outcome could set trends in state-level digital asset policies.