The Arizona legislature advances with Bitcoin reserve bills
The Arizona House of Representatives voted on two bills to establish a cryptocurrency reserve in the state.
Arizona House legislators have voted in favor of passing two bills that could allow the state to adopt a reserve using Bitcoin 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 15 other states are considering with similar legislation at the national level, allowing the treasurer to invest up to 10% in, probably primarily Bitcoin, but also in other things," said State Representative Jeff Weninger about SB1025. "I think this would probably start as a 'may' in the foreseeable future, but as things continue to shift towards Bitcoin and these topics, it would already be established for the future
