Arizona Senate Committee Approves Strategic Bitcoin Reserve Bill

Odaily Planet Daily News Arizona lawmakers proposed a bill to allow public funds to invest in Bitcoin and other digital assets, and the state's Senate Finance Committee approved the bill with a 5-2 vote on January 27. The proposed legislation, co-sponsored by Wendy Rogers and Jeff Weninger, is called SB1025, the "Arizona Strategic Bitcoin Reserve Act," which allows the state to invest up to 10% of public funds (including funds held by the state treasurer and retirement systems) in cryptocurrencies such as Bitcoin. If the U.S. Treasury Secretary establishes a strategic Bitcoin reserve for government assets, the bill also includes provisions for digital assets to be stored in a secure segregated account within a potential federal strategic Bitcoin reserve. (Crypto Briefing)