Arizona Emerges as Second State with Bitcoin Reserve Bill

user avatar

by Giorgi Kostiuk

2 years 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.

Tier I

Sector: #18291

Sealed Hiding Place Room

Resource Cache

Resource Cache

Tier I

Requires 25% Tier Progress to Claim
Meme Cache

Meme Cache

Tier I

Requires 50% Tier Progress to Claim
Equipment Cache

Equipment Cache

Tier I

Requires 75% Tier Progress to Claim

After collecting, hiding places will be stored in your inventory and can be opened with Keys.

Other news

Amazon Stock Price Predictions for 2027

Major firms predict Amazon stock will reach $350 per share by 2027, driven by AWS growth and AI advancements.

user avatarDavid Robinson

Tether Partners with Shiga to Launch Financial Products in Africa and Gulf

Tether is transitioning its Wallet Development Kit into financial products for users and institutions in Africa and the Gulf, collaborating with Shiga.

user avatarJacob Williams

Soneium and DayOneDream Join Forces to Tokenize Kpop Revenue Streams

Soneium partners with DayOneDream to tokenize Kpop revenue streams using blockchain technology.

user avatarAndrew Smith

Strive Increases Bitcoin Holdings by 1,107 BTC

Strive has significantly increased its Bitcoin holdings by acquiring 1,107 BTC for approximately $945 million.

user avatarZainab Kamara

Verona Launches verUSD Stablecoin for AI Payments

Verona has launched a new dollar stablecoin, verUSD, designed for AI payments and machine transactions, with over $100 million in institutional commitments.

user avatarAyman Ben Youssef

Blockchain.com Plans IPO to Enter US Public Markets

Blockchain.com is reportedly preparing for an initial public offering that could raise around $500 million.

user avatarSon Min-ho

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.