STRATEGIC BITCOIN RESERVE ACT

SB 275, the Strategic Bitcoin Reserve Act, allows New Mexico to invest up to 5% of certain permanent state funds (like land grant, severance tax, and tobacco settlement funds) in bitcoin or digital assets. It requires all investments to be held through secure custody solutions that keep private keys exclusively controlled by the state, with strict security measures like multi-party transaction approval and encrypted storage. The bill also mandates that any taxes paid in bitcoin be converted to U.S. currency within 60 days and transferred to the general fund, and permits retirement funds to invest in bitcoin-related exchange-traded products. This policy directly affects the state treasurer, investment council, and retirement boards by establishing new investment rules for digital assets.