PANews reported on December 18 that Ohio Congressman Derek Merrin submitted Bill No. 703 (Ohio Bitcoin Reserve Act), proposing to establish a Bitcoin reserve fund in the state treasury and authorize the state treasurer to flexibly invest in Bitcoin, but without mandatory requirements. Merrin pointed out that the US dollar is rapidly depreciating, and Bitcoin can be used as a tool to protect tax funds and enhance state finances. This legislation provides a framework for state governments to use Bitcoin technology to address economic challenges and promote innovation. Similar bills have been proposed in Texas and Pennsylvania, with the goal of establishing state-level Bitcoin reserves.