• 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

SBI Holdings CEO Expresses Confidence in XRP's Future

chest

Yoshitaka Kitao, CEO of SBI Holdings, expresses strong confidence in XRP's future, suggesting it could become very expensive as adoption grows.

user avatarNguyen Van Long

RealFi to Unveil Major Partnership on XRPL

chest

RealFi is set to announce a significant partnership aimed at expanding the XRP Ledger's global reach.

user avatarKofi Adjeman

Strategy's Bitcoin Accumulation Could Reach 184 Million by 2029

chest

Strategy's Bitcoin accumulation could reach 184 million BTC by April 2029, potentially altering market dynamics.

user avatarSatoshi Nakamura

James Wynn's Trading Strategy Leads to Multiple Liquidations

chest

James Wynn's aggressive trading strategy has resulted in multiple liquidations due to high-leverage Bitcoin shorts in a rising market.

user avatarJesper Sørensen

James Wynn Liquidated Again Amid Bitcoin Rally

chest

Notorious trader James Wynn has faced his sixth liquidation in two weeks as Bitcoin prices surged.

user avatarRajesh Kumar

Metaplanet Strengthens Bitcoin Holdings with New Acquisition

chest

Metaplanet has recently acquired an additional 5,075 Bitcoin, further solidifying its position as one of the largest publicly listed Bitcoin holders in the world.

user avatarLucas Weissmann

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.