Close Menu

    Subscribe to Updates

    Get the latest creative news from FooBar about art, design and business.

    What's Hot

    Has the bitcoin treasury company bubble popped?

    July 2, 2025

    Circle to launch gateway for unified USDC access across blockchains

    July 2, 2025

    Bitcoiners are loving Elon Musk’s debt fallout with Trump

    July 2, 2025
    Facebook X (Twitter) Instagram
    Wednesday, July 2
    • About
    • Contact us
    • Privacy Policy
    Facebook X (Twitter) LinkedIn YouTube
    Blockchain Echo
    Banner
    • Lithosphere News Releases
    • Bitcoin
    • Crypto
    • Ethereum
    • Litecoin
    • Altcoins
    • Blockchain
    Blockchain Echo
    Home » Arizona advances Strategic Bitcoin Reserve Act to House
    Crypto

    Arizona advances Strategic Bitcoin Reserve Act to House

    John SmithBy John SmithFebruary 28, 2025No Comments3 Mins Read
    Facebook Twitter Pinterest LinkedIn Tumblr Email
    Share
    Facebook Twitter LinkedIn Pinterest Email



    Arizona lawmakers have pushed forward the Arizona Strategic Bitcoin Reserve Act, bringing the state a step closer to making Bitcoin a part of its financial strategy.

    On Feb. 27, the Arizona Senate voted 17-11 to pass the Strategic Bitcoin Reserve Act (SB 1025) in its third reading, moving it to the House for further debate. If it clears the House, it will land on the governor’s desk for final approval before becoming law.

    Introduced by State Senator Wendy Rogers and Representative Jeff Weninger, the bill proposes allowing the state treasurer to invest up to 10% of public funds in virtual currencies, including Bitcoin. 

    It defines virtual currencies as digital assets that serve as a medium of exchange, a unit of account, and a store of value, excluding representations of the U.S. dollar or foreign currencies.

    The bill also supports the creation of a Strategic Bitcoin Reserve by outlining measures for securely storing holdings in segregated accounts and allowing Arizona’s public funds to deposit assets into a federal reserve if established.

    According to a Feb. 28 X post from Bitcoin Laws, Arizona now stands as the second U.S. state, behind Utah, to advance a Bitcoin reserve bill to the final stages of the legislative process.

    ARIZONA Update:

    Bitcoin Reserve Bill SB 1373 has passed the Senate third reading, by a vote of 17-12.

    Now moves to the House. AZ moves up to second place in the Reserve Race. pic.twitter.com/yTOPwW05GW

    — Bitcoin Laws (@Bitcoin_Laws) February 28, 2025

    As previously reported by crypto.news, Utah’s Bitcoin reserve bill recently passed the Senate Revenue and Taxation Committee in a 4-2-1 vote and is now headed for a second and third reading in the Senate before facing a final vote.

    Similar bills are currently pending in 18 U.S. states, according to the crypto reserve bills tracker, Bitcoin Reserve Monitor. However, not all states are on board—Montana, Wyoming, North Dakota, South Dakota, and Pennsylvania have rejected proposed crypto investment bills.

    Meanwhile, the Arizona Senate has also voted in favor of SB 1373, the Strategic Digital Assets Reserve bill, which cleared its third reading with a 17-12 vote on the same day.

    However, unlike the Strategic Bitcoin Reserve Act (SB 1025), which focuses on allowing public funds to invest in Bitcoin and other virtual currencies, SB 1373 is more about managing seized digital assets and funds appropriated by the state legislature.

    It proposes a state treasurer-managed Digital Assets Strategic Reserve Fund that holds seized crypto and state-allocated funds.





    Source link

    Share. Facebook Twitter Pinterest LinkedIn Tumblr Email
    Previous ArticleHere’s why Bitcoin price correction could last until April
    Next Article The reports of Ethereum’s death are greatly exaggerated | Opinion
    John Smith

    Related Posts

    Circle to launch gateway for unified USDC access across blockchains

    July 2, 2025

    Crypto’s killer app is the first 60 seconds

    July 2, 2025

    Pudgy Penguins surges 64% in a week amid ETF-driven momentum

    July 2, 2025
    Leave A Reply Cancel Reply

    Top Posts

    🐍 Lunar New Year Scratch & Win Campaign Is Live with a Grand Prize of 8,888,888 VERSE (~$1800) | by Bitcoin.com | Jan, 2025

    January 24, 2025

    Trade VERSE/USDT on KuCoin to Earn your Share of $8400 in Rewards! | by Bitcoin.com | Jan, 2025

    January 24, 2025

    Boost Your Crypto: Up to 30% Cash Back! | by Bitcoin.com | Jan, 2025

    January 24, 2025
    Stay In Touch
    • Facebook
    • YouTube
    • TikTok
    • WhatsApp
    • Twitter
    • Instagram
    Latest Reviews

    Subscribe to Updates

    Get the latest tech news from FooBar about tech, design and biz.

    About Us

    Stay updated on the world of cryptocurrency
    Your one-stop source for daily crypto news and insights
    Blockchainecho.info: Your trusted daily crypto companion

    Most Popular

    🐍 Lunar New Year Scratch & Win Campaign Is Live with a Grand Prize of 8,888,888 VERSE (~$1800) | by Bitcoin.com | Jan, 2025

    January 24, 2025

    Trade VERSE/USDT on KuCoin to Earn your Share of $8400 in Rewards! | by Bitcoin.com | Jan, 2025

    January 24, 2025

    Boost Your Crypto: Up to 30% Cash Back! | by Bitcoin.com | Jan, 2025

    January 24, 2025
    Copyright © 2025
    • Home
    • Buy Now

    Type above and press Enter to search. Press Esc to cancel.