#ArizonaBTCReserve

Arizona has made significant strides toward establishing a state-managed Bitcoin reserve, with two key bills, SB 1025 (Arizona Strategic Bitcoin Reserve Act) and SB 1373 (Strategic Digital Assets Reserve Bill), advancing through the legislative process. Here's a concise overview based on the latest developments:SB 1025: This bill, co-sponsored by Senator Wendy Rogers and Representative Jeff Weninger, allows the state treasurer and retirement systems to invest up to 10% of public funds in Bitcoin and other virtual currencies. It also includes provisions for secure storage, such as segregated accounts within a potential federal Strategic Bitcoin Reserve if established. The bill passed the Arizona Senate on February 27, 2025, with a 17-11 vote and the House Committee of the Whole on April 1, 2025. It awaits a final House floor vote.SB 1373: Sponsored by Senator Mark Finchem, this bill establishes a Digital Assets Strategic Reserve Fund, comprising digital assets seized through criminal proceedings and state-appropriated funds. The state treasurer can invest up to 10% of the fund annually and may loan assets to generate returns, provided it doesn't increase financial risk. It passed the Senate on February 27, 2025 (17-12 vote) and the House Committee of the Whole on April 17, 2025, and is also awaiting a final House floor vote.Current Status: Both bills were approved by the Arizona House of Representatives on April 28, 2025, and are now awaiting Governor Katie Hobbs' signature. However, Hobbs has previously threatened to veto legislation due to unrelated budget disputes, particularly over disability funding, though she lifted a blanket veto threat on April 24, 2025, after a bipartisan deal. Her stance on these bills remains unclear, and a veto could prompt an override attempt.