The digital bill from Arizona goes to a definitive vote of the house after cleaning up the committee of the whole.
On April 17, the state account 1373 of Arizona, also known as the strategic digital asset reserve bill, came a step closer to becoming the law after he was approved through the entire house in a provisional assessment.
SB 1373, also known as the Strategic Digital Assets Reserve Bill, proposes the establishment of a fund consisting of digital assets seized in a criminal procedure.
The State treasurer would manage the fund and be authorized to invest up to 10% of its total value in digital assets per financial year. It also includes a provision with which the treasurer can lend the importance of the fund, provided that the action does not increase the financial risk profile of the fund.
The current progress makes Arizona one of the leading states in the race to set up a State-supported digital asset reserve, alongside Texas and New Hampshire.
As previously reported by crypto.news, SB 1373 released the house rules committee on 25 March, in addition to SB 1025, the reserve for Bitcoin reserve alone.
While SB 1373 covers digital assets in general, SB 1025 focuses exclusively on Bitcoin and allows Arizona’s treasury and pension system to allocate up to 10% of the available funds to BTC.
It also contains a provision to save Bitcoin on a separate Federal Reserve account. The Commission of the whole adopted that bill on 1 April and is still waiting for a final vote.
Both bills can, however, touch a wall at the Governor’s office. The Governor of Arizona Katie Hobbs has threatened to express all legislation until legislators take a bill to finance disability services.
Both bills can, however, touch a wall at the Governor’s office. The Governor of Arizona, Katie Hobbs, a Democrat, has promised to express all legislation until the legislators approve a bill to deal with a shortage of $ 122 million in financing the state division.
In a April 17th after On X, Hobbs criticized the financing proposal of the legislative power controlled by the Republicans as “Onserus and a complete non -starter”.
She already has 15 accounts this week Highest rejection percentage Of every American governor in 2024, after he had blocked more than 20% of all legislation so far, most of the Republican led.
Arizona’s wider crypto strategy also includes a measure in February aimed at curbing Bitcoin ATM fraud. In February, Wetgevers House Bill 2387 presented to implement measures, such as a daily transaction hood, mandatory operating licenses and policy requirements for reimbursement to protect users against fraud.
