#ArizonaBTCReserve Arizona Legislature Approves Bitcoin Reserve Bills, Moving Closer to Cryptocurrency Stock

The Arizona House of Representatives approved two bills proposing different methods the state could use to establish a cryptocurrency reserve.

Members of the Arizona House of Representatives approved two bills that could allow the state to adopt a reserve using Bitcoin and

or other cryptocurrencies.

In a third reading on April 28, Senate Bill 1025 (SB1025), which proposes to amend Arizona statutes to allow a strategic reserve of BTC, was approved by a vote of 31 in favor and 25 against. A similar bill, SB1373, to establish a state reserve of digital assets, passed with 37 votes in favor and 19 against.

"This bill basically adopts the approach that probably another 15 states are considering, allowing the treasurer to invest up to 10% in, likely primarily Bitcoin, but also in other assets," said State Representative Jeff Weninger about SB1025.

"I believe that, initially, this would be an option, but as things continue to trend toward Bitcoin and similar assets, we would already have this prepared for the future."