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Minutes for SB352 - Committee on Financial Institutions and Insurance
Short Title
Creating the bitcoin and digital assets reserve fund and providing definitions, procedures and requirements for abandoned digital assets.
Minutes Content for Tue, Jan 27, 2026
The hearing on SB 352 was opened by Chairperson Dietrich. Revisor Eileen Ma gave an overview of the bill. (Attachment 1)
Senator Bowser testified as a proponent of the bill (Attachment 2). He explained that modernizing Kansas statutes to include state management of digital assets is necessary to be forward thinking and prepare for the future. Doing so would enable Kansas to create a strategic reserve fund with multiple benefits, one of which is that it would serve as a hedge against inflation or devaluation of fiat currency. Many state have already passed similar legislation and it is a low-risk, opportunistic way for the state to build exposure to digital assets without directly purchasing them. Senator Bowser answered questions from the Committee.
Eric Baker of Satoshi Action Fund testified in favor of the bill (Attachment 3). He stated that modernizing the statutes is important since they were written before Bitcoin existed. He also explained that keeping digital assets in their "native form" protected owners from forced liquidation. He offered four friendly amendments to be considered. Mr. Baker stood for questions from the Committee.
Neutral testimony was offered by John Hedges of the State Treasurer's Office (Attachment 4). He highlighted concerns their office has over implementation of the bill and liability issues. Mr. Hedges responded to questions from the Committee.
Chairperson Dietrich closed the hearing on SB 352.
Next meeting is scheduled for January 28, 2026 at 9:30 a.m. Meeting adjourned at 10:26 a.m.
