Rhode Island Bitcoin Reserves and Cryptocurrency Laws

Rhode Island Bitcoin Reserves and Cryptocurrency Legislation

Rhode Island Bitcoin Reserve Overview

Proposed Reserves (HB 6007)
Friendly Regulatory Status
Tax-Free Bitcoin Spending Proposed

Rhode Island Bitcoin Reserves

Rhode Island Legislative Breakdown

State	BTC Reserves	% of Global Holdings	Legal Status	Last Updated	Key Laws and Regulations
Rhode Island (RI)	Proposed (No Official Reserves)	0%	Friendly	2025-03-31	HB 6007 (2025): Proposes Strategic Bitcoin Reserve, allowing 10% of public funds and retirement systems to invest in Bitcoin; pending as of May 2025 SB 0373 (2025): Creates a commission to recommend blockchain and cryptocurrency legislation; pending as of May 2025 Tax-Free Bitcoin Bill (2025): Proposes exempting Bitcoin sales up to $10,000/month from state capital gains tax; pending as of May 2025 S 0016/H 5121 (2025): Proposes $1,000 daily transaction limit for crypto ATMs; pending as of May 2025 Uniform Virtual Currency Businesses Act (2020): Applies to crypto transmission, requiring licenses with $10,000 fee No state income tax; federal capital gains tax (15–37%) applies to crypto earnings ~30,000 residents (~2.7% of population) use crypto; $600M in transactions (2023–2024, est.) Approximately 8 Bitcoin ATMs, primarily in Providence (2024)

Rhode Island Bitcoin Reserve Status

Current status: PROPOSED (NO OFFICIAL RESERVES)

Rhode Island has not established a state Bitcoin reserve, but HB 6007, introduced on February 28, 2025, proposes allocating 10% of public funds and retirement systems to Bitcoin investments to hedge against inflation. The bill is pending as of May 2025. The state’s crypto-friendly environment is bolstered by a proposed tax exemption for Bitcoin spending up to $10,000/month and a blockchain commission (SB 0373), though crypto ATM restrictions (S 0016/H 5121) are under consideration.

No funds have been allocated for Bitcoin reserves, as HB 6007 awaits approval. Rhode Island aims to protect against inflation and foster crypto adoption if passed.

3/31/2025

PROPOSED

Tax-Free Bitcoin Bill was introduced, proposing to exempt Bitcoin sales up to $10,000/month from state capital gains tax; the bill is pending.

2/28/2025

PROPOSED

HB 6007 was introduced, proposing a Strategic Bitcoin Reserve with 10% of public funds and retirement systems invested in Bitcoin.

2/28/2025

PROPOSED

SB 0373 was introduced, creating a commission to recommend blockchain and cryptocurrency legislation; the bill is pending.

2/3/2025

PROPOSED

S 0016/H 5121 was introduced, proposing a $1,000 daily transaction limit for cryptocurrency ATMs; the bill is pending.

6/1/2020

SIGNED INTO LAW

Rhode Island adopted portions of the Uniform Virtual Currency Businesses Act, applying licensing to crypto transmission.

Rhode Island Bitcoin Reserves and Cryptocurrency Legislation

Rhode Island Bitcoin Reserve Overview