Key Takeaways:
- Arizona Senate Advances Crypto Bills: The state Senate approved two cryptocurrency reserve bills—SB 1373 and SB 1025—moving them to the House for further consideration.
- Strategic Reserves for Digital Assets: SB 1373 proposes a Digital Assets Strategic Reserve Fund managed by the state treasurer, while SB 1025 seeks to expand investment authority for public funds into crypto.
- State-Level Crypto Legislation Gains Momentum: Arizona joins Utah in advancing crypto reserve laws, while similar proposals have been rejected in several other states.
Arizona’s Senate has approved two cryptocurrency reserve bills, advancing them to the state’s House of Representatives for further consideration.
The Strategic Digital Assets Reserve bill (SB 1373), introduced by Republican Senator Mark Finchem, passed with a 17-12 vote on Feb. 27.
STRATEGIC BITCOIN RESERVE PASSES THE ARIZONA SENATE.
— Dennis Porter (@Dennis_Porter_) February 28, 2025
This bill proposes the creation of a Digital Assets Strategic Reserve Fund, managed by the state treasurer, which will include legislatively allocated funds and seized digital assets.
The treasurer is limited to investing no more than 10% of total fund deposits annually but can loan digital assets to generate returns without increasing financial risk.
A second measure, the Strategic Bitcoin Reserve Act (SB 1025), co-sponsored by Republican Senator Wendy Rogers and Representative Jeff Weninger, also passed the Senate with a 17-11 vote.
🇺🇸 ARIZONA BITCOIN RESERVE BILL PASSES THE SENATE
— The Bitcoin Conference (@TheBitcoinConf) February 28, 2025
SO CLOSE! GO ARIZONA 🚀 pic.twitter.com/cgiSWlwwi7
This bill would allow public funds to be invested in cryptocurrency.
Arizona is among 18 states considering crypto reserve legislation, with Arizona and Utah leading the push, while similar proposals have been rejected in Montana, Wyoming, and Pennsylvania.
The movement aligns with growing pro-crypto sentiment, partly influenced by former President Donald Trump’s stance.
Meanwhile, Bitcoin has dropped 17% in the past week, reflecting economic uncertainty surrounding Trump’s proposed tariffs.
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