• 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

10 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

Decentralization Under Pressure from Ordinals Growth

chest

The increasing costs of running full nodes due to Ordinals inscriptions threaten Bitcoin's decentralization.

user avatarLi Weicheng

Rising Costs of Full Node Operation Due to Ordinals

chest

The introduction of Ordinals has nearly doubled Bitcoin outputs, increasing the memory strain on full nodes and raising operational costs.

user avatarTenzin Dorje

Miner Incentives and the Redistribution of Value in Bitcoin

chest

The boom in Ordinals has strengthened miner incentives, but it has also led to higher fees for ordinary users and node operators.

user avatarAisha Farooq

The Impact of Bitcoin Ordinals on Network Sustainability

chest

The rise of Bitcoin Ordinals is testing the infrastructure of the Bitcoin network, raising concerns about the long-term sustainability of full nodes.

user avatarBayarjavkhlan Ganbaatar

Ripple's Legal Battle and New Identity Initiatives

chest

Ripple's legal battle with the SEC is viewed as a pivotal moment, leading to the launch of the XDNA token for decentralized identity systems on the XRP Ledger.

user avatarMohamed Farouk

NFT Sales Volume Plummets Amid Market Collapse

chest

NFT sales volume has dropped significantly, falling to 6495 million from last week's 7710 million, due to a collapse in buyer and seller participation.

user avatarElias Mukuru

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.