Arizona crypto reserve bill passes House committee, heads to third reading
Arizona's Strategic Digital Assets Reserve Bill (SB 1373) has passed the House and is one vote away from reaching the governor for approval. The bill aims to create a Digital Assets Strategic Reserve Fund from digital assets seized in criminal cases, managed by the state treasurer. The treasurer can invest up to 10% of the fund in digital assets annually and loan assets to enhance returns without increasing risks. Governor Katie Hobbs may veto the bill due to her pledge against passing legislation until disability funding is addressed. Concurrently, the Arizona Strategic Bitcoin Reserve Act (SB 1025) allows investment of up to 10% of state funds in Bitcoin and is also awaiting a full floor vote. Other states, including Texas and New Hampshire, are pursuing similar Bitcoin reserve legislation.
