Washington Bitcoin Reserves and Cryptocurrency Laws

Washington Bitcoin Reserves and Cryptocurrency Legislation

Washington Bitcoin Reserve Overview

No Official Reserves
Strict Regulatory Status
Business-Regulated Environment

Washington Bitcoin Reserves

No Bitcoin reserves data available (0 BTC).

Washington Legislative Breakdown

State	BTC Reserves	% of Global Holdings	Legal Status	Last Updated	Key Laws and Regulations
Washington (WA)	No Official Reserves	0%	Regulated	2025-03-30	SB 5031 (2017): Classifies crypto exchanges as money transmitters, requiring licensing, surety bonds ($10,000–$550,000), and third-party cybersecurity audits; effective July 23, 2017 SB 5531 (2022): Includes virtual currency in the Uniform Unclaimed Property Act as property; effective March 30, 2022 Blockchain Bill 5544 (2022): Establishes Washington Blockchain Work Group to explore blockchain applications; signed into law April 2, 2022 WA Admin Code 208-690-060: Requires minimum tangible net worth of $100,000 for virtual currency storage businesses Bitcoin mining restricted if excessive energy consumption poses fire safety risks Approximately 15 Bitcoin ATMs, primarily in Seattle and Spokane (2024 estimate) State income tax not applicable; federal capital gains tax (15–37%) applies to crypto earnings

Washington Bitcoin Reserve Status

Current status: NO OFFICIAL RESERVES

Washington has not established a state Bitcoin reserve as of May 2025. The state maintains a strict regulatory framework for cryptocurrencies, focusing on consumer protection and financial oversight. SB 5031 (2017) classifies crypto exchanges as money transmitters, requiring licensing and surety bonds. SB 5531 (2022) recognizes virtual currency as property under the Uniform Unclaimed Property Act. Blockchain Bill 5544 (2022) created the Washington Blockchain Work Group to explore blockchain applications, but no legislation supports state-held Bitcoin reserves. Washington’s regulatory approach has led some exchanges, like Bitfinex and Kraken, to exit the state due to compliance costs.

No funds have been allocated for Bitcoin reserves, and no Strategic Bitcoin Reserve legislation is under consideration. Washington prioritizes regulatory clarity and blockchain innovation over state investment in digital assets.

3/30/2022

SIGNED INTO LAW

SB 5531 was enacted, including virtual currency in the Uniform Unclaimed Property Act as property.

4/2/2022

SIGNED INTO LAW

Blockchain Bill 5544 established the Washington Blockchain Work Group to explore blockchain applications.

7/23/2017

SIGNED INTO LAW

SB 5031 classified cryptocurrency exchanges as money transmitters, requiring licensing and surety bonds.

Washington Bitcoin Reserves and Cryptocurrency Legislation

Washington Bitcoin Reserve Overview