#ArizonaBTCReserve

The legislators of the Arizona House of Representatives have voted in favor of approving two bills that could allow the state to adopt a reserve using Bitcoin

BTC

83,503 €

or other crypto assets.

In a third reading on April 28 of Senate Bill 1025 (SB1025), a proposal to amend the statutes of Arizona and allow a strategic reserve of BTC, 31 members of the Arizona House voted in favor of the bill, with 25 against. A similar bill, SB1373, to establish a state-level digital asset reserve, was approved with 37 legislators in favor and 19 voting against.

“This bill basically adopts the approach that probably another 15 states are considering with similar legislation at the national level, which allows the treasurer to invest up to 10% in, probably mainly Bitcoin, but also in other things,” said State Representative Jeff Weninger about SB1025. “I think this would likely start as a ‘may’ in the foreseeable future, but as things continue to shift towards Bitcoin and these issues, it would already be established for the future.”