Arizona legislature moves forward with Bitcoin reserve bills
Summary
Arizona House of Representatives passed two bills allowing the state to adopt a reserve using Bitcoin or other cryptocurrencies. Senate Bill 1025 (SB1025) aims to amend statutes for a strategic Bitcoin reserve, passing with 31 votes in favor and 25 opposed. Senate Bill 1373 (SB1373) proposes a state-level digital assets reserve, passing with 37 votes in favor and 19 opposed. The legislation permits the treasurer to invest up to 10% in cryptocurrencies, primarily Bitcoin. These bills are closer to becoming law than any other state-level initiative in the US. Similar legislation is progressing in New Hampshire.
