Arizona’s crypto reserve bill Heads to Final House Vote

The Digital Asset Reserve Bill of Arizona is heading for a final vote in the House after erased the Ensemble Committee.

On April 17, the Arizona State Bill 1373, also called the Digital Asset Strategic Bill, got closer to a step more and more approved By the full house in a preliminary review.

SB 1373, also known as strategic bill on the reserve of digital assets, proposes the creation of a fund made up of digital assets seized in criminal procedures.

The state treasurer manages the fund and would be authorized to invest up to 10% of its total value in digital assets per exercise. It also includes a provision which allows the treasurer to lend the fund’s assets, provided that the action does not increase the fund’s financial risk profile.

Its current progress makes Arizona one of the main states of the race to establish a reserve of digital assets supported by the State, alongside Texas and New Hampshire.

As before reported By Crypto.News, SB 1373 erased the Rules of the Chamber Committee on March 25, alongside SB 1025, the Bitcoin reserve proposal only from the State.

While SB 1373 covers digital assets in general, SB 1025 focuses only on Bitcoin and allows the cash and retirement system of Arizona to allocate up to 10% of the available funds in BTC.

It also includes a provision to store Bitcoin in a separate federal reserve account. This bill adopted the Committee of the Ensemble on April 1 and is still waiting for a final vote.

However, the two bills could strike a wall in the governor’s office. The governor of Arizona, Katie Hobbs, threatened with veto to all legislation until the legislators adopt a bill to finance the invalidity services.

However, the two bills could strike a wall in the governor’s office. The governor of Arizona, Katie Hobbs, Democrat, is committed to vetoing all legislation until the legislators adopt a bill to tackle a deficit of $ 122 million in financing the Division of State Development Disorders.

In an April 17 job On X, Hobbs criticized the proposal to finance the legislative assembly under republican control as “non -serious and complete”.

She has already opposed her veto to 15 invoices this week and holds the highest rejection rate From any American governor in 2024, having blocked more than 20% of all legislation so far, most Republicans.

Arizona’s wider crypto strategy also includes a February measure to limit Atm Bitcoin fraud. In February, legislators Presentation of Bill 2387 To implement measures such as daily transaction ceiling, a compulsory license for operators and a refund of policy requirements to protect users from scams.