Lawmakers in the Arizona House of Representatives have approved two bills that could pave the way for the state to establish a reserve using Bitcoin or other cryptocurrencies. The bills, SB1025 and SB1373, aim to amend Arizona's statutes to allow for a strategic BTC reserve and a state-level digital assets reserve, respectively. State Representative Jeff Weninger highlighted that this legislation mirrors similar efforts in other states, enabling the treasurer to invest up to 10% in Bitcoin and other assets. The approval of these bills marks significant progress towards creating a cryptocurrency reserve at the state level, with New Hampshire also moving in a similar direction. Despite initial concerns raised by Governor Katie Hobbs, the recent legislative developments suggest a potential shift in her stance. These state-level initiatives align with broader discussions at the federal level, including President Trump's executive order proposing a Strategic Bitcoin Reserve. Senator Cynthia Lummis has further advocated for Congress to consider holding over 1 million BTC. Overall, these developments signal a growing interest in integrating cryptocurrencies into government reserves. Read more AI-generated news on: https://app.chaingpt.org/news

#BTC