Arizona's cryptocurrency reserve bill passed by the House committee, moving towards the third reading

Arizona's Strategic Digital Asset Reserve Bill is just one vote away from being passed to Governor Katie Hobbs for approval, although she has recently vetoed bipartisan bills.

One of Arizona's cryptocurrency reserve bills has been passed by the House and now only needs one more successful vote to reach the governor's desk for official approval.

The Strategic Digital Asset Reserve Bill (SB 1373) was approved by the House Committee of the Whole on April 17, with 60 House members considering the bill before the third and final reading along with the full House vote.

The SB 1373 bill aims to establish a strategic digital asset reserve fund that includes digital assets seized through criminal proceedings to be managed by the state treasurer.

The Arizona treasurer will be allowed to invest up to 10% of the total fund amount in any fiscal year into digital assets. The treasurer may also lend fund assets to increase returns, as long as it does not increase financial risk.

However, the SB 1373 bill passed by the Senate may be vetoed by Arizona Governor Katie Hobbs, who has recently pledged to veto any bills until the legislature passes a funding bill for the disabled. #Arizona