Arizona bills target 10% Bitcoin investment for public funds
Arizona lawmakers have approved two cryptocurrency-related bills that now await Governor Katie Hobbs' signature, according to official legislative records.
Senate Bill 1025, titled the "Arizona Strategic Bitcoin Reserve Act," passed the Arizona House with a 31-25-4 vote.
This bill would allow the state treasurer and retirement systems to invest up to 10 percent of public funds in Bitcoin (CRYPTO:BTC).
It also outlines that if the U.S. Treasury creates a Strategic Bitcoin Reserve, Arizona could store its Bitcoin holdings in a secure, segregated account within it.
Meanwhile, the companion measure Senate Bill 1373, which focuses on broader digital assets, passed the House with a 37-19-4 vote.
SB1373 establishes a "Digital Assets Strategic Reserve Fund" to manage cryptocurrencies and digital assets seized through criminal proceedings or allocated through legislative appropriations.
According to the bill, the fund would hold assets like Bitcoin, stablecoins, and NFTs, managed by the State Treasurer.
It also clarifies that funds placed into the reserve would not expire at the end of the fiscal year.
Both bills previously passed the Arizona Senate on February 27 without amendments and now await formal transmittal to Governor Hobbs' desk.
A separate proposal introduced in March would allow Bitcoin ETFs to be included in the state's retirement portfolio for government employees.
Additionally, Arizona recently advanced HB 2342, a bill to protect Bitcoin miners and blockchain node operators from zoning and usage restrictions.
According to legislative updates, HB 2342 passed by a 17-12 vote in the Senate and is also pending executive approval.
If signed into law, Arizona would mark a significant move at the state level toward integrating Bitcoin and digital assets into public financial strategies.
At the time of reporting, the Bitcoin price was $94,629.41.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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