Lawmakers in the Arizona House of Representative have voted to pass two bills that may allow the state to adopt a reserve using Bitcoin (Btc) or other cryptocurrencies.
In the third reading of April 28 of Senate Bill 1025 (SB1025), a proposal to change Arizona laws to allow a strategic BTC reserve, 31 members of the Arizona House Vote In favor of the bill, with 25 opposition. A similar bill, SB1373, to establish a state digital level reserve, passed along with 37 lawmakers in favor and 19 voting.
“This bill usually takes the approach that maybe 15 other states are considered the same law across the country that allows the treasurer to invest up to 10%, perhaps Bitcoin is mainly but other things,” said state representative Jeff Weninger at SB1025. “I think maybe it will start as a ‘May’ for the predictable future, but as things continue to shrink to Bitcoin and these things, there will be in this place in the future.”
Approvals carry bills closer to any other US level initiative in the US to obtain a cryptocurrency or bitcoin strategic reserve signed by law. The same law proposed in New Hampshire The state’s house has been passed in April and expected to head to the Senate for a full floor vote as soon as possible.
This is a story development, and further information will be added as it is available.
