Arizona’s Bold Move: Crypto Reserve Bill Surges Forward!

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Crypto In The Desert: Arizona Reserve Bill Advances To 3rd Reading

The progress of Arizona’s endeavor to establish state-owned cryptocurrency reserves has picked up pace this week. On April 17, the Strategic Digital Assets Reserve Bill (SB 1373) successfully advanced past a significant step when it was approved by the upper chamber of the House Committee of the Whole in the legislature. If it passes its final vote, it could then be forwarded to Governor Katie Hobbs for her consideration.

Bill Would Create Fund From Seized Crypto Assets

Under the proposed SB 1373, a Digital Assets Reserve Fund would be established, holding digital assets that have been confiscated during criminal investigations. This fund would be overseen by the state treasurer who has the authority to invest up to 10% of the total value of the fund in additional digital assets annually.

As a crypto investor in Arizona, I understand that our state’s treasurer has the ability, under the law, to borrow funds from our investment pool to boost returns. However, this lending must be done responsibly and without increasing financial risks.

Governor’s Veto Threat Hangs Over Legislation

The bill might still face obstacles in its progress, even if it successfully passes its final vote in the House. Governor Hobbs has issued a warning that she may veto any bills until legislation for disability funding is passed by the legislators. Given her recent actions, the chances of the crypto bill being approved don’t look promising – she has already vetoed 15 bills this week alone.

Julian Fahrer, head of Apollo and the founder of Bitcoin Laws, expressed his belief that SB 1373 will progress through the House. Yet, he hinted it might be combined with another crypto-related bill, SB 1062, which could potentially expand the concept of legal tender to encompass cryptocurrencies.

ARIZONA’S STRATEGIC #BITCOIN RESERVE BILL PASSES FINAL COMMITTEE

WHAT A TIME TO BE ALIVE!!!

— Vivek (@Vivek4real_) April 17, 2025

Second Bitcoin-Specific Bill Also Moving Forward

In simple terms, the lawmakers of Arizona are proposing another bill concerning cryptocurrencies, aside from SB 1373. This new bill, known as the Arizona Strategic Bitcoin Reserve Act (SB 1025), specifically focuses on investing in Bitcoin and not a variety of digital currencies.

Under this proposal, Arizona’s pension fund and treasury could potentially allocate up to 10% of their investable resources towards Bitcoin investments. The Senate Bill 1025 successfully cleared the House Committee of the Whole on April 1st and is now awaiting a full vote in the house.


Arizona Leads Multi-State Race For Crypto Reserves

As per the latest legal developments, Arizona stands out among several states by actively pushing for legislation concerning cryptocurrency reserves. While Utah passed Bitcoin-related bills on March 7th, it unfortunately removed the crucial point about establishing a Bitcoin reserve during its final review.

In simple terms, a Bitcoin reserve bill that is similar to one passed in Texas was recently approved by the Senate there on March 6th. A similar bill also passed in New Hampshire’s House. At this moment, Arizona appears to be driving these bills forward. However, Fahrer believes that the Texas bill has the highest likelihood of becoming law because it has faced the fewest obstacles so far compared to other bills of its kind.

These governmental efforts are indicating a growing movement where public organizations view cryptocurrencies as essential components within their financial investments. However, significant political hurdles still need to be addressed before these proposed laws become law. If enacted, these bills would mark a transformative change in the approach state governments take when investing and handling digital currencies.

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2025-04-18 23:30