Montana’s House Bill No. 429, which sought to establish a state-backed Bitcoin reserve, has failed to move forward after a crucial vote in the state’s House of Representatives. The bill was rejected by a 41-59 vote on February 22,

Montana joins North Dakota, Wyoming, and Pennsylvania in halting proposals to include Bitcoin in state reserves.

Montana has blazed a trail, becoming the fourth U.S. state to push a Bitcoin reserve bill through to the House. On February 19, Montana’s House

Montana’s House voted against a bill that could have made Bitcoin a state reserve asset on Feb. 22, with many lawmakers concerned it would have allowed the state’s investment board to speculate too heavily with taxpayer money.

Montana’s House Business and Labor Committee has passed a bill that could open the door for Bitcoin and other cryptos to become reserve assets after a BTC strategic reserve bill passed the subcommittee level.