• 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

House Democrats Accuse SEC of Abandoning Major Crypto Investigations

chest

House Democrats have raised concerns about the SEC's handling of high-profile crypto cases, alleging political influence in the dismissal of investigations.

user avatarKenji Takahashi

Cronos Expands into UAE Market

chest

Cronos (CRO) is expanding its global reach with a new partnership in the UAE, enhancing user engagement and rewards.

user avatarGustavo Mendoza

Low Gas Fees Spur Growth in Ethereum Network

chest

Low gas fees on the Ethereum network have reached an all-time low of approximately 0.15, enhancing affordability and attracting more users to engage with DeFi and NFTs.

user avatarMaria Fernandez

CryptoAppsy Offers Curated News Feed for Cryptocurrency Investors

chest

CryptoAppsy features an integrated news section that provides users with curated news relevant to their portfolio.

user avatarMiguel Rodriguez

CryptoAppsy Attains Excellent User Ratings and Favorable Reviews.

chest

CryptoAppsy has received positive feedback from users, achieving high ratings of 5.0 on the App Store and 4.6 on Google Play.

user avatarRajesh Kumar

BlockDAG's Layer 1 Network is Live Before Public Trading

chest

BlockDAG has launched a fully functional Layer 1 network that supports high transaction speeds, processing up to 1,400 transactions per second.

user avatarLuis Flores

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.