The Arizona Representatives’ meeting room plenary approved the SB 1373 bill to establish a digital asset preparation consisting of public funds and cryptocurrency. The initiative now has to pass the final reading and vote fully.
This committee works like Stage before the third reading60 members of the chamber formally reviewed and did not discuss the project before submitting to the final vote.
The SB 1373 initiative proposes the creation of Arizona’s strategic Department of Cryptocurrency. This is managed by the state treasurer. This allows you to invest up to 10% of your total booking per fiscal year They also have the power to provide digital assets aimed at generating additional benefits, provided that the level of financial risk does not increase.
In early March, Cryptonotics reported approval of the law in its second reading in the House of Representatives. If you overcome the following obstacles, Sent to Governor Katie Hobbs’ desk For promulgation as state law.
However, the situation can quickly become complicated as the governor has made a promise reject all bills until Congress approves measures to fund obstacles.
“A bill that is not on my desk will be rejected until there is a serious, bipartisan funding solution…” The severity of this warning is clear given that authorities have already suspended 15 projects this week alone.
The SB 1373 law is not the only law seeking to establish a strategic cryptocurrency reserve in Arizona. There is also the SB 1025 initiative approved by the House of Representatives on April 1. The plan proposes that both state treasures and retirement plans can invest in digital assets. However, unlike SB 1373, it focuses solely on Bitcoin.
The Arizona proposal is part of the US growth trend. Currently, more than 15 states are promoting laws to establish strategic crypto reserves. It stands out among them Strong economies like Texas and FloridaIt generates a total of over USD 4 billion, according to data from the Bureau of Economic Analysis. This accounts for approximately 15% of the US total GDP, and is estimated at US$30.3 billion in 2025.
The figures exceed GDP from countries such as the UK (US$3.7 billion), France (US$3.2 billion) and Spain (US$1.8 billion), according to International Monetary Fund data.
(tagstotranslate)bitcoin(btc)
