• 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

8 months 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

Fundamental Catalysts Strengthen PENGU's Market Position

chest

The Pudgy Penguins token, PENGU, is currently benefiting from several fundamental catalysts that are enhancing its market presence.

user avatarTenzin Dorje

Pudgy Penguins Token PENGU Sees Significant Market Recovery

chest

The Pudgy Penguins token, PENGU, has seen a remarkable market recovery, surging by 69% in 24 hours, with a 7-day return of 4310% due to smart money inflows and brand developments.

user avatarBayarjavkhlan Ganbaatar

Apecoin APE Merges NFT Power with DeFi Growth

chest

Apecoin is making significant strides in the crypto market by integrating its growing NFT ecosystem with DeFi functionalities.

user avatarMohamed Farouk

Trump's Inflation Prediction Sparks Controversy

chest

Former President Trump claims US inflation will soon reach 15%, conflicting with official projections of over 2%.

user avatarElias Mukuru

Benefits and Challenges of SOL ETF Options Trading

chest

Options trading for the SOL ETF offers numerous advantages but also faces challenges.

user avatarDiego Alvarez

Government Shutdown Causes Temporary Market Fluctuations

chest

The government shutdown is expected to end soon, causing temporary market fluctuations.

user avatarKenji Takahashi

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.