#ArizonaBTCReserve

The Arizona House of Representatives approved two bills proposing different methods that the state could use to establish a cryptocurrency reserve.

In a third reading on April 28, Senate Bill 1025 (SB1025), which proposes to amend Arizona statutes to allow for a strategic reserve of BTC, was approved by a vote of 31 in favor and 25 against. A similar bill, SB1373, to establish a state reserve of digital assets, passed with 37 votes in favor and 19 against.

"This bill basically adopts the approach that probably another 15 states are considering, allowing the treasurer to invest up to 10% in, probably, mainly Bitcoin, but also in other assets," stated State Representative Jeff Weninger about SB1025.

“I believe that initially, this would be an option, but as things continue to move towards Bitcoin and similar assets, we would have this prepared for the future".

The approvals bring the bills closer than any other state-level initiative in the U.S. to turning into law a strategic reserve of Bitcoin or crypto assets. Similar legislation proposed in New Hampshire was approved by the state House and is expected to soon move to a Senate vote.