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West Virginia lawmakers have taken a step toward letting the state put a slice of its cash into gold, stablecoins and very large cryptocurrencies. Senate Bill 143, introduced on January 15, 2026, is being called the Inflation Protection Act and was filed by State Senator Chris Rose.

Inflation Protection Act Details

According to the proposal, the State Treasury Board could place up to 10% of certain treasury accounts into a limited list of nontraditional assets.

Those assets would include precious metals like gold and silver, regulator-approved stablecoins, and digital currencies that meet a very high market-cap test. The bill sets that threshold at US$750 billion averaged over the prior calendar year.

The Market Cap Door Is Narrow

Based on reports, only the largest cryptocurrencies would clear that bar. At the moment, that effectively names Bitcoin as the sole qualifying digital asset, given the US$750 billion requirement. That choice was framed as a way to limit exposure to volatile or fringe tokens.

How The State Could Hold These Assets

The bill does not demand one custody model. Instead, it allows the treasury to hold metals or crypto directly, to use exchange-traded products, or other approved custody setups. The language also contemplates tools like staking or ETPs as options for generating returns, but it attaches rules intended to reduce operational and security risks.

A Policy Shift At The State Level

Rose and backers present the move as a hedge against inflation and a way to diversify reserves beyond bonds and cash. Opponents are likely to press on fiduciary duty, volatility, and the risks of adopting assets with rapid price swings.

The debate taps into a wider trend: several US states have been exploring ways to create strategic reserves that include precious metals or crypto.

What Happens Next

SB 143 has been assigned to the Committee on Banking and Insurance, with further review expected before any vote. Lawmakers will weigh technical safeguards, reporting rules, and how to audit and insure holdings before moving the measure forward.

If implemented, the plan would let West Virginia place a modest, capped portion—10%—of qualifying funds into a narrow set of assets aimed at preserving buying power.

Supporters argue it is a cautious experiment; critics say the risk profile of crypto still demands care. Either way, the proposal will force a detailed policy discussion in Charleston about how public money should be managed when new financial tools are on the table.

Featured image from Corcoran, chart from TradingView

Bitcoin (BTC) is holding above the $95,000 level after a recent pullback from two-month highs, as U.S. regulatory uncertainty and softer risk sentiment weigh on the broader crypto market.

Related Reading: Ethereum Treasury Bitmine Makes $200M Bet On MrBeast’s Company

The pause follows the U.S. Senate Banking Committee’s decision to delay markup on a proposed crypto market structure bill, a move that has cooled enthusiasm after Bitcoin briefly approached $97,000 earlier this week.

Despite the setback, analysts largely view the price action as consolidation rather than a reversal. Trading volume has declined, open interest has eased, and liquidations have risen, suggesting that some leverage is being cleared from the market.

Bitcoin ETF Flows Remain Supportive

Institutional demand through U.S. spot Bitcoin exchange-traded funds (ETFs) continues to provide a key source of support.

According to Farside Investors, Bitcoin ETFs recorded roughly $100 million in net inflows on January 15, marking four consecutive days of positive flows. BlackRock’s iShares Bitcoin Trust (IBIT) led the day with $315.8 million in inflows, while Fidelity’s FBTC and Grayscale’s GBTC saw outflows.

Since the start of the year, U.S. spot Bitcoin ETFs have attracted nearly $1.5 billion in net inflows. Analysts say this pattern suggests that institutional buyers have absorbed much of the selling pressure that followed Bitcoin’s breakout above $88,000.

Regulatory Delays Add Uncertainty

The delayed Senate vote followed public opposition from Coinbase CEO Brian Armstrong, who criticized parts of the proposed bill related to decentralized finance, tokenized equities, and regulatory oversight. Lawmakers postponed discussion of the bill, leaving questions about the future regulatory framework for digital assets.

The lack of clarity has contributed to short-term caution across crypto markets. Shares of crypto-related companies such as Coinbase and Strategy also fell after the news. Analysts note that while clearer regulation could support long-term adoption, uncertainty in the near term can pressure prices.

Is $100,000 Still in Play?

Technical analysts say Bitcoin has reclaimed the $95,000 zone, with the next major resistance around $97,500, near the 50-week exponential moving average. Some market watchers believe a push toward $100,000 remains possible if Bitcoin can hold above current support levels and ETF inflows continue.

Related Reading: LMAX Group Adds Ripple’s RLUSD Stablecoin For Global Exchange After $150 Million Deal

For now, the market appears to be in a cooling phase rather than a downturn. Whether Bitcoin can regain momentum will likely depend on regulatory developments, institutional flows, and broader risk sentiment in global markets.

Cover image from ChatGPT, BTCUSD chart on Tradingview

Swift has completed a new set of digital asset interoperability trials with BNP Paribas Securities Services, Intesa Sanpaolo, and Société Générale’s tokenization unit SG-FORGE, extending work that also includes Chainlink and UBS Asset Management as the messaging network pushes deeper into tokenized capital markets workflows. The project matters because it targets the hardest part of institutional tokenization: getting assets, cash, and operational processes to move cleanly across multiple platforms without forcing banks to abandon existing rails.

Swift Hits Tokenized-Asset Interoperability Milestone

Chainlink posted via X on Jan 15: “As part of Swift’s work with Chainlink & UBS Asset Management, Swift completes landmark interoperability milestone with BNP Paribas, Intesa Sanpaolo, & Société Générale.”

The trial, which Swift described as a “landmark” milestone, focused on the “seamless exchange and settlement of tokenized bonds,” with payments supported in both fiat and digital currencies. Swift said the work covered delivery-versus-payment settlement and key lifecycle events including interest payouts and redemption, with participants taking on familiar market roles such as paying agent, custodian and registrar.

Swift framed the outcome as a step beyond point integrations. It said this was “the first time we have demonstrated our ability to orchestrate tokenized asset transactions as a single, coordinated process across both blockchain platforms and traditional systems,” positioning Swift as a neutral coordinator in a market that is rapidly splintering across chains, protocols, and settlement stacks.

A key element of the project ran through SG-FORGE’s infrastructure. Swift said the trial “harness[ed] their digital asset and EURCV stablecoin” to enable DvP settlement for tokenized bonds using both fiat and stablecoins, while also supporting the bond lifecycle events tested in the exercise. BNP Paribas Securities Services and Intesa Sanpaolo acted as paying agents and custodians, and Swift argued the settlement flows executing “over Swift” showed tokenized bonds can leverage existing infrastructure rather than forcing institutions into bespoke blockchain plumbing.

The network also highlighted standards alignment, saying the initiative showcased integration of ISO 20022 messaging with “blockchain-native platforms,” a detail that speaks directly to operational adoption for firms already running ISO-native post-trade and payments processes.

Thomas Dugauquier, Swift’s tokenised assets product lead, cast the effort in institutional terms: “This milestone demonstrates how collaboration and interoperability will shape the future of capital markets. It’s about creating a bridge between traditional finance and emerging technologies.”

Chainlink’s Role

While the bond trial involved European banking counterparts, Swift explicitly tied the work to a broader sequence of pilots, including “bridging tokenized assets with existing payment systems with UBS Asset Management and Chainlink.” In that earlier UBS pilot, Swift, UBS Asset Management and Chainlink tested a model for settling tokenized fund subscriptions and redemptions while keeping cash settlement compatible with existing fiat rails carried over Swift’s network footprint.

Swift also pointed to other recent experiments spanning fiat and digital currency settlement with Citi, digital asset transaction exchange with Northern Trust and the Reserve Bank of Australia, and ISO 20022-based blockchain interoperability with HSBC and Ant International.

Beyond technology, Swift said it has submitted proposed market practice guidelines to the Securities Market Practice Group, arguing that innovation in digital assets should not come “at the expense of systemic stability” and that clearer practices can reduce onboarding complexity for institutions.

With the trial series “now complete,” Swift said it is focused on adding “a blockchain-based ledger” to its infrastructure stack, starting with real-time, 24/7 cross-border payments “designed in collaboration with over 30 banks worldwide.”

At press time, Chainlink (LINK) traded at $13.78.