The Arizona Senate advanced to a Bitcoin Reserve Bill, which brought it to the second place behind Utah in a race between us state to obtain an approved crypto investment bill.
The Arizona Senate passed The Strategic Digital Assets Reserve Bill (SB 1373) in its third reading on February 27 with a vote of 17 for and 12 battles. It is now moving forward in the state’s house.
The Bill.
The Treasurer cannot invest more than 10% of total fund deposits in any year of fiscal but may borrow digital assets from the fund to generate returns if it does not increase the financial risks to the state.
“(If) you like it or not, the law will occur at the federal level in this order: Stablecoins, market structure, and strategic bitcoin reserve,” founder of Satoshi Action Fund Dennis Porter Dennis Says In a Feb. 28 x Post.
Arizona moves the breed of strategic reserve. Source: Bitcoin Laws
Another Bitcoin Reserve Bill is also Making the way By the Senate of Arizona. Strategic Bitcoin Reserve Act (SB 1025), sponsored by Republican Senator Wendy Rogers and Representative Jeff Weninger, also passed The third reading of the Senate in February. 27 with 17 vote for and 11 battles.
The Rogers and Weninger sponsored bill focused on the investment authority for public funds to invest in crypto assets, while the Finchem-sponsored bill establishes a specialized funding for seized digital assets and applicable funds.
Related: Michigan has become the latest state to suggest a crypto reserve bill
There are current 18 US states with crypto reserve bills pending Senate votes, while the two – Arizona and Utah – is at the final phase of the approval process.
State investment bills have been rejected in Montana, Wyoming, North Dakota, South Dakota and Pennsylvania.
The status of fees associated with the crypto reserve. Source: Bitcoin Reserve Monitor
Bitcoin Reserve proposals are gaining support across the US thanks to President Donald Trump’s pro-crypto policies.
Meanwhile, bitcoin is Tanked 17% For the past seven days while struggling to maintain gains due to economic uncertainty in the placement of Trump’s incoming tariffs.
Magazine: 3ac-related ox.fun rejected
