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Category: CRYPTO NEWS
The post Arizona Moves Closer to Holding Crypto in State Reserves appeared on BitcoinEthereumNews.com. Bitcoin Arizona’s Strategic Digital Assets Reserve Bill (SB 1373) is gaining momentum. The bill passed the House committee on Thursday and now awaits a full floor vote. If approved, it heads to the governor’s desk for final sign-off. The proposed law would create a state-managed crypto reserve, backed by legislative funds and seized digital assets. The aim? To give Arizona a financial edge in the growing blockchain economy. State-Managed Crypto Fund in the Works Under SB 1373, the state treasurer can hold seized crypto in either a qualified custody solution or a state-registered exchange-traded product. The treasurer may also loan out digital assets from the reserve to generate yield. There’s a cap: no more than 10% of the total reserve can be invested in any fiscal year. The bill defines “digital assets” broadly—covering Bitcoin, stablecoins, NFTs, and other blockchain-based tokens with financial or access-related value. Arizona Also Eyes Bitcoin-Specific Reserve This isn’t Arizona’s only crypto play. A second bill, SB 1025, passed the House earlier this month. That bill, dubbed the Arizona Strategic Bitcoin Reserve Act, would allow the state to invest up to 10% of its funds directly into virtual currency holdings, with a particular focus on Bitcoin. If both measures pass, Arizona could become a pioneer in state-level crypto treasury management, paving the way for other U.S. states to follow. Author Kosta Gushterov Reporter at Coindoo Kosta has been a part of the team since 2021 and has solidified his position with a thirst for knowledge, incredible dedication to his work and a “detective-like” mindset. He not only covers a wide range of trending topics, he also creates reviews, PR articles and educational content. His work has also been referenced by other news outlets. Related stories Next article Source: https://coindoo.com/arizona-moves-closer-to-holding-crypto-in-state-reserves/
2025-04-18T13:45:16+00:00
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