• 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

10 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

Bitcoin's Price Action Remains Choppy Amid Key Support Levels

chest

Bitcoin's price is currently rangebound between critical zones, with buyers supporting the lower end.

user avatarMaya Lundqvist

Phantom Integrates Kalshi's Prediction Markets for 20 Million Users

chest

Phantom has launched Kalshi-powered prediction markets within its wallet, enabling its 20 million users to trade tokenized positions on real-world outcomes.

user avatarLeo van der Veen

Critical Support Zone for TAO Identified

chest

Analyst Crypto Patel has identified the 262-215 range as a crucial support zone for TAO's price stability.

user avatarGustavo Mendoza

ADNOC Distribution to Accept AE Coin at Service Stations

chest

ADNOC Distribution will accept AE Coin, a dirham-pegged stablecoin, at around 980 service stations in the UAE, Saudi Arabia, and Egypt to enhance digital payment systems.

user avatarAisha Farooq

AE Coin Approved as UAE's First Central Bank-Backed Stablecoin

chest

AE Coin has been recognized as the first Central Bank-approved stable digital currency in the UAE, fully backed by the dirham (AED).

user avatarLi Weicheng

Security Costs Surge Following CEO Murder

chest

The murder of UnitedHealth CEO Brian Thompson has led to a significant increase in security budgets across major health insurers, including updates to websites that now exclude executive photos.

user avatarTenzin Dorje

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.