Bitget App
Trade smarter
Buy cryptoMarketsTradeFuturesBotsEarnCopy
Arizona bills target 10% Bitcoin investment for public funds

Arizona bills target 10% Bitcoin investment for public funds

GrafaGrafa2025/04/29 09:20
By:Mahathir Bayena

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.

0

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.

PoolX: Locked for new tokens.
APR up to 10%. Always on, always get airdrop.
Lock now!

You may also like

Bullish, Gibraltar Partner on Crypto Derivatives Settlement Framework

Bullish, the cryptocurrency exchange backed by Peter Thiel, has partnered with the Government of Gibraltar and the Gibraltar Financial Services Commission to co-develop a regulatory framework for the clearing and settling crypto derivatives.

DeFi Planet2025/05/14 10:00
Bullish, Gibraltar Partner on Crypto Derivatives Settlement Framework

Arizona Governor Vetoes Pro-Crypto Bills, Signs Strict Bitcoin ATM Regulation

Arizona Governor Katie Hobbs has made a decisive move on the state’s approach to digital assets, vetoing multiple cryptocurrency-friendly bills while signing a strict regulatory measure for Bitcoin ATM operations into law.

DeFi Planet2025/05/14 10:00
Arizona Governor Vetoes Pro-Crypto Bills, Signs Strict Bitcoin ATM Regulation

Australia’s Crypto Sector Welcomes Pro-Crypto Appointment in Government Reshuffle

Australia’s digital asset industry is showing renewed optimism following the appointment of Andrew Charlton as Assistant Minister for the Digital Economy, Artificial Intelligence, and other emerging technologies. The announcement was made by Prime Minister Anthony Albanese during a press conference in Canberra on May 12, marking a significant shift in the government’s approach to emerging tech sectors.

DeFi Planet2025/05/14 10:00
Australia’s Crypto Sector Welcomes Pro-Crypto Appointment in Government Reshuffle