One of the Crypto reserve bills of Arizona has been adopted by the Chamber and is now a successful vote to head to the Governor’s office for official approval.
The bill on the reserve of strategic digital assets of Arizona (SB 1373) was approved on April 17 by the Committee of the Chamber of the Ensemble, which implies 60 members of the Chamber weighing on the bill before a third and final reading and a complete vote.
The SB 1373 seeks to establish a strategic reserve of digital assets made up of digital assets entered through criminal procedures to be managed by the treasurer of the State.
The Arizona treasurer would be authorized to invest up to 10% of the total funds of the fund during the exercise of digital assets. The treasurer would also be able to lend the fund’s assets to increase yields, provided that he does not increase financial risks.
However, an SB 1373 approved by the Senate could be delivered by the Governor of Arizona, Katie Hobbs, who recently undertook to veto all the bills until the Legislative Assembly adopts a bill on the financing of disability.
Hobbs also has a history of a veterory before the room and opposed his veto to 15 invoices sent to his office this week only.
Arizona is the new leader in the Bitcoin State reserve race
SB 1373 crossed the Arizona legislature alongside Arizona Strategic Bitcoin Reserve Act (SB 1025), which only includes Bitcoin (BTC).
The bill proposes to authorize the Treasury and Arizona State pension system to invest up to 10% of the funds available in Bitcoin.
SB 1025 also adopted the Arizona Chamber Committee on April 1 and awaits a full vote.
In relation: Binance helps countries with bitcoin reserves, cryptographic policies, explains the CEO
UTAH adopted Bitcoin legislation on March 7, but canceled the provision of the cornerstone establishing the Bitcoin reserve during the final reading.
The Texas Senate adopted a bill on the Bitcoin reserve on March 6, while a similar bill was recently adopted by the Chamber of the New Hampshire.
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