Maryland2026Active
HB0051
Strategic Digital Asset Reserve Act of Maryland
Last scannedAug 22, 2026, 4:24 AM
In one sentence
This law creates a special state fund to hold money seized from illegal gambling and allows the State Treasurer to invest that money in cryptocurrency.
What it does
- Creates the Maryland Digital Asset Reserve Fund as a special, nonlapsing account for the State.
- Requires the State Treasurer to deposit money seized by State authorities during certain gambling violations into this fund.
- Allows the State Treasurer to use only the money in this fund to buy cryptocurrency.
- Defines cryptocurrency as a decentralized digital asset using blockchain technology with at least $500 billion in market value.
- Requires that any cryptocurrency bought be stored on a secure platform or by a qualified custodian.
Who it affects
- The State Treasurer, who manages the new fund and makes investments.
- State law enforcement agencies that seize money from illegal gambling activities.
- People involved in unlawful bookmaking, betting on games, or using illegal gaming devices whose money may be seized.
Limits and unknowns
- The law only applies if the seizing authority is a State agency; local police seizures go to county or city treasurers.
- Spending money from this fund can only happen through the regular state budget process.
- Interest earnings on funds in the general account still go back to the General Fund, but interest earned specifically by this new fund stays in it.
Plain language
Terms to know
- Cryptocurrency
- A decentralized digital asset that uses a blockchain ledger and has a market value of at least $500 billion.
- Forfeited money
- Cash taken by the government from people who broke gambling laws when seized by State authorities.
- Nonlapsing fund
- A special account where any unused money stays in the fund for future use instead of going back to general state funds automatically.
Official record
Sources
Official summary
Establishing the Maryland Digital Asset Reserve Fund to serve as a reserve asset for the State through the investment of cryptocurrency; and authorizing the State Treasurer to invest the funds obtained by the State through the enforcement of certain gambling violations into cryptocurrency.
Official activity
Bill history
- In the House - Hearing 2/03 at 1:30 p.m.