Arizona recently took an important step in the cryptocurrency field: the state legislature passed two bills on April 28, 2025, allowing a portion of public funds to be invested in Bitcoin (BTC) and other digital assets, marking the first time a U.S. state government has officially legislated to directly invest public funds in Bitcoin, setting a precedent for other states and symbolizing the gradual mainstream recognition of cryptocurrency. 

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📜 Bill Overview: SB1025 and SB1373

• SB1025 "Arizona Strategic Bitcoin Reserve Act": Authorizes the State Treasury and retirement system to invest up to 10% of public funds (approximately $3.15 billion) in Bitcoin and other digital assets. 

• SB1373 "Strategic Digital Asset Reserve Act": Proposes the establishment of a digital asset strategic reserve fund managed by the State Treasurer, funded by seized assets and legislative appropriations, allowing up to 10% to be invested in Bitcoin and other digital assets each fiscal year, and enabling asset borrowing without increasing risk. 

Both bills were introduced by Republican legislators Wendy Rogers and Jeff Weninger, aiming to diversify the state government's asset portfolio through crypto assets. 

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🏛 Current Progress and Challenges

Although these two bills have passed the legislature, they still require the signature of Governor Katie Hobbs to become law. Previously, Hobbs indicated she would veto all bills before the new budget was passed in the state legislature, but this threat has been lifted after a bipartisan agreement was reached on April 24. However, Hobbs has not yet stated her position on these two cryptocurrency bills. 

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📌 Summary

• Bills Passed: SB1025 and SB1373

• Investment Cap: Up to 10% of public funds (approximately $3.15 billion)

• Current Status: Awaiting Governor Katie Hobbs' signature

• Potential Impact: Could become the first state in the U.S. to establish a Bitcoin reserve, promoting the use of crypto assets in public finance