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Arizona lawmakers have reintroduced a Bitcoin reserve bill to the forefront of political discussion, after it was narrowly passed by the Senate with a vote of 16 to 14. The bill aims to create a state-managed fund to handle confiscated digital currencies, in a move that reignites the debate over the role of crypto assets in government fiscal policy.
Bill No. 2324 revives a previous proposal that failed to gain approval in past months, and grants the state treasurer powers to manage confiscated digital currencies during criminal investigations. The bill allows for the storage of these assets in approved digital wallets, or their sale through licensed trading platforms, or their retention based on security and market considerations.