Arizona Lawmakers Approve Complementary Bitcoin, Crypto Bills
Arizona lawmakers have passed two bills aimed at establishing the state as a leader in cryptocurrency investing, pending Governor Katie Hobbs' approval. Senate Bill 1025, known as the "Arizona Strategic Bitcoin Reserve Act," allows the state to invest up to 10% of public funds in Bitcoin and mandates secure storage of these assets. Senate Bill 1373 creates a "Digital Assets Strategic Reserve Fund" to manage various digital assets, including those seized through criminal proceedings. Both bills passed without amendments and await transmittal to the governor. A separate proposal for Bitcoin ETFs in the state retirement plan was introduced, and another bill to protect Bitcoin miners and blockchain operators was advanced. Governor Hobbs has expressed concerns about partisan tensions affecting her decision on these bills.
