Arizona Moves Forward with Crypto Investment Legislation
- The Arizona Senate Finance Committee approved the Strategic Bitcoin Reserve Act (SB1025) by a 5-2 vote.
- The bill is co-sponsored by Republican Senator Wendy Rogers and Representative Jeff Weninger.
- It allows the state treasurer, Arizona State Retirement System, and Public Safety Personnel Retirement System to invest up to 10% of public funds in digital assets.
- The proposal requires further approval from the Senate Rules Committee and the Arizona State Senate before proceeding to the House of Representatives.
- Arizona joins states like Utah in considering crypto reserve proposals.
The Strategic Bitcoin Reserve Act, approved by a narrow margin in the Senate Finance Committee, advances toward further legislative scrutiny, potentially allowing significant public fund investments in cryptocurrencies.
Source (2.6)https://dailyhodl.com/2025/01/29/arizona-advances-bill-allowing-state-to-invest-up-to-10-of-public-funds-in-virtual-currencies/?rand=59076
