• 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

South Korean Crypto Tax Petition Gains Momentum

chest

A petition to abolish the crypto taxation framework in South Korea has gained significant traction, surpassing 53,000 signatures as of May 21, 2023.

user avatarTomas Novak

Grayscale Confirms GHYP Ticker for Hyperliquid ETF

chest

Grayscale has submitted an amendment to its HYPE ETF application, confirming the GHYP ticker for its upcoming Hyperliquid ETF.

user avatarEmily Carter

OKX to Introduce New Perpetual Futures Linked to Brent and WTI Crude

chest

OKX plans to launch new perpetual futures contracts linked to Brent and WTI Crude in collaboration with ICE, aiming to bridge traditional finance with digital trading.

user avatarKaterina Papadopoulou

HYPE as a Leading Indicator for Altcoin Momentum

chest

HYPE is viewed as a key indicator for altcoin momentum, signaling a return of risk appetite in digital assets.

user avatarMaya Lundqvist

Introduction of HIP4 Enhances Trading Flexibility

chest

The introduction of HIP4 allows for outcome-based trading, enhancing the trading strategies available on Hyperliquid.

user avatarLeo van der Veen

Hyperliquid Transforms into a Financial Supercenter

chest

Hyperliquid is evolving from a trading platform into a comprehensive financial infrastructure for the crypto economy.

user avatarLi Weicheng

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.