Arizona Senate committee advances Bitcoin reserve bill 

The finance committee of the Arizona Senate approved the SB1025, also known as “Arizona Strategic Bitcoin Reserve Act”.

The act has been approved in a vote of 5-2. Coparraine by the Senator of the Wendy Rogers State and the representative Jeff Weninger, the bill aims to allow up to 10% of the Arizona public funds, including the reserves of the treasurer and the pension system of the State, to be invested in Bitcoin (BTC) and other digital assets.

The bill will now carry out the Senate rules committee, which will establish guidelines for debate and potential amendments on the Senate soil. If it is approved by the complete Senate, the bill will advance in the House of Representatives of Arizona.

If adopted, Arizona would become the first American state to integrate bitcoin into its financial strategy. The proposed legislation includes measures to safely store the assets of the Bitcoin government in separate accounts, ensuring that these digital assets are managed in a responsible manner.

Federal Strategic Bitcoin Reserve

Legislation also supports the potential creation of a federal strategic bitcoin reserve, which could store cryptocurrency assets kept by the state.

Dennis Porter, CEO of the Satoshi Action Fund, highlighted This Arizona decision is part of a broader trend, with eleven states Already introducing Similar reserve reserve bitcoin.

The advancement of the bill is aligned with recent developments in cryptocurrency policy at the federal level. The American Senate recently confirmed Scott besides as secretary of the treasure, with the support of Bessent expressing Bitcoin while opposing the digital currencies of the Central Bank.

Last year, the Senate of the State of Arizona Approved an invoice Undering state retirement systems to monitor Bitcoin ETF as potential investment options. The bill has emphasized work with companies approved by the dry before making wallet additions.