• 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

Missing Bitcoin Case Raises Concerns Over Asset Custody in South Korea

chest

Missing Bitcoin case raises concerns over asset custody in South Korea.

user avatarTando Nkube

South Korean Tax Service Accidentally Exposes Crypto Wallet Seed Phrase, Leading to Major Theft

chest

South Korea's National Tax Service accidentally published a photo revealing a crypto wallet's seed phrase, leading to the theft of 4 million PRTG tokens worth approximately 48 million.

user avatarAyman Ben Youssef

Bitcoin Faces Multiple Resistance Levels Ahead of Potential Bullish Shift

chest

Bitcoin must overcome several resistance zones to signal a potential bullish trend.

user avatarNguyen Van Long

Bitcoin Faces Resistance as Price Struggles to Break 70,000

chest

Bitcoin has faced challenges in maintaining prices above 70,000 throughout February, indicating a potential resistance level.

user avatarKofi Adjeman

Former Mt Gox CEO Proposes Hard Fork to Recover $5 Billion in Bitcoin

chest

Mark Karpeles, the former CEO of the collapsed Mt Gox exchange, proposes a hard fork in Bitcoin to recover nearly 80,000 Bitcoin lost during the exchange's downfall in 2014, valued at over $5 billion.

user avatarSatoshi Nakamura

MVRV Pricing Bands Indicate Potential Bitcoin Price Bottom

chest

MVRV pricing bands suggest potential Bitcoin price bottom between $51,558 and $54,703.

user avatarJesper Sørensen

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.