#数字资产法案 United States "21st Century Financial Innovation and Technology Act" (FIT21)

• Background: Jointly proposed by the U.S. House of Representatives Financial Services Committee and Agriculture Committee in June 2023, passed in the House on May 22, 2024, with a vote of 279 to 136.

• Core Content: Establish a regulatory framework for digital assets, defining digital assets as exchangeable digital representations that can be transferred between individuals without intermediaries and recorded on a cryptographically protected public distributed ledger. Digital commodities will be regulated by the Commodity Futures Trading Commission (CFTC), while securities-type digital assets will be regulated by the Securities and Exchange Commission (SEC). It also proposes key factors to distinguish whether a digital asset is a security or a commodity, including investment contracts, usage and consumption, degree of decentralization, functional and technical characteristics, and market activities.

Arizona State's "Strategic Digital Asset Reserve Act" (SB1373)

• Background: In April 2025, the Arizona legislative body passed the bill with 37 votes in favor and 19 against.

• Core Content: Allows the state treasury to invest up to 10% of public funds in digital assets such as Bitcoin. Establishes a "hybrid custody mechanism," with 50% of assets stored in the Federal Reserve System and 50% directly controlled by the state government with private keys. Specifies that 30% of the digital asset revenue will be used to supplement the education fund.