Arizona Approves Strategic Bitcoin Reserve Bill

BlockBeats News, January 28th, according to Crypto Briefing, lawmakers in the state of Arizona, USA, have introduced a bill that would allow public funds to be invested in Bitcoin and other digital assets. The state Senate Finance Committee approved the bill on January 27th with a 5-2 vote.

This proposed legislation, co-sponsored by Wendy Rogers and Jeff Weninger, is known as SB1025, the "Arizona Strategic Bitcoin Reserve Act," which would allow the state to invest up to 10% of public funds (including funds held by the state treasurer and retirement systems) in Bitcoin and other cryptocurrencies. The bill also includes provisions for holding digital assets in a secure segregated account within a potential federal strategic Bitcoin reserve if the U.S. Treasury Secretary were to establish a government asset strategic Bitcoin reserve.