• 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

7 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

RLUSD Stablecoin Partnership Powers Institutional Crypto Yield With XRP Ledger

chest

A partnership between DBS Digital Exchange, Franklin Templeton, and Ripple has created the first tokenized money market fund repo trading system on the XRP Ledger, delivering institutional crypto yield solutions for accredited investors.

David Robinson

XRP's Real-World Applications Boost Growth Potential

chest

XRP is experiencing significant growth potential due to its real-world applications in banking and remittances.

Andrew Smith

Cboe to Launch 10-Year Bitcoin and Ethereum Futures

chest

Cboe plans to introduce 10-year Bitcoin and Ethereum futures, enhancing US-regulated access to crypto derivatives.

Jacob Williams

Jerome Powell Highlights Job Market Struggles for Gen Z

chest

Jerome Powell highlights the struggles Gen Z faces in the job market, citing rising unemployment and a challenging hiring environment.

Zainab Kamara

US Job Market Faces Challenges Amid Rising Unemployment

chest

The US job market is facing significant challenges, with 7.4 million unemployed individuals and only 7.2 million job openings, raising concerns about future job opportunities, especially for younger generations.

Son Min-ho

Avalanche and Hyperliquid Lead Altcoin Rally Following Fed Rate Cut

chest

Avalanche (AVAX) and Hyperliquid (HYPE) led a significant rally in altcoins following the Federal Reserve's quarter-point rate cut, with AVAX rising 101% and HYPE jumping 72%.

Ayman Ben Youssef

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.