• Dapps:16.23K
  • Blockchains:78
  • Active users:66.47M
  • 30d volume:$303.26B
  • 30d transactions:$879.24M

Arizona Emerges as Second State with Bitcoin Reserve Bill

user avatar

by Giorgi Kostiuk

a year ago

Arizona's Senate has approved two bills aiming to establish a reserve fund containing digital assets, including Bitcoin.

Bill Advancement

The Digital Assets Reserve Bill (SB 1373) was passed on its third reading by the Arizona Senate with a vote of 17 for and 12 against. It now moves to the state's House for consideration.

Bill Details

Sponsored by Republican Senator Mark Finchem, the bill would create a 'Digital Assets Strategic Reserve Fund,' managed by the state treasurer. The treasurer may invest no more than 10% of the total fund deposits each fiscal year and may use digital assets for returns without increasing financial risks to the state.

Support and Opposition

Satoshi Action Fund founder, Dennis Porter, commented, '[Whether] you like it or not, legislation will happen at the federal level in this order: Stablecoins, Market Structure, and Strategic Bitcoin Reserve.'

Whether you like it or not, legislation will happen at the federal level in this order: Stablecoins, Market Structure, and Strategic Bitcoin Reserve.Dennis Porter

Arizona and Utah are in the final stages of approving crypto reserve bills, while similar proposals have been rejected in several other states.

0

Rewards

chest
chest
chest
chest

More rewards

Discover enhanced rewards on our social media.

chest

Other news

Grayscale Submits Form 8K for Solana Staking ETF with Cash Payouts

chest

Grayscale has filed a new Form 8K with the SEC for its Solana Staking ETF, allowing quarterly cash payouts of staking rewards to shareholders.

user avatarZainab Kamara

Arbitrum Foundation Proposes $43 Million Budget for 2027

chest

The Arbitrum Foundation has proposed a significant budget of $43 million for 2027 to support operational and growth initiatives, raising discussions on DAO funding strategies and questions about spending transparency.

user avatarSon Min-ho

Ethereum Foundation Integrates AI for Enhanced Protocol Security

chest

The Ethereum Foundation's Protocol Security team is utilizing AI agents to improve the scanning of protocol repositories and devnets for vulnerabilities.

user avatarAyman Ben Youssef

Ethereum ETFs Experience Positive Inflows Amid Institutional Interest

chest

Ethereum ETFs have recorded a third consecutive day of net inflows, indicating improving institutional demand.

user avatarTando Nkube

Utz Brands Inc Stock Surges 89% Amid Intersnack Group Acquisition Announcement

chest

Utz Brands Inc stock surged 89% after Intersnack Group announced a $2.9 billion acquisition.

user avatarKofi Adjeman

Render Completes 98% Migration to Solana

chest

Render Foundation announces that 98.4% of the RNDR token supply has successfully migrated to the native RENDER token on Solana.

user avatarNguyen Van Long

Important disclaimer: The information presented on the Dapp.Expert portal is intended solely for informational purposes and does not constitute an investment recommendation or a guide to action in the field of cryptocurrencies. The Dapp.Expert team is not responsible for any potential losses or missed profits associated with the use of materials published on the site. Before making investment decisions in cryptocurrencies, we recommend consulting a qualified financial advisor.