Arizona’s Strategic Digital Assets Reserve Bill (SB 1373) is gaining momentum. The bill passed the House committee on Thursday and now awaits a full floor vote. If approved, it heads to the governor’s desk for final sign-off.
The proposed law would create a state-managed crypto reserve, backed by legislative funds and seized digital assets. The aim? To give Arizona a financial edge in the growing blockchain economy.
State-Managed Crypto Fund in the Works
Under SB 1373, the state treasurer can hold seized crypto in either a qualified custody solution or a state-registered exchange-traded product. The treasurer may also loan out digital assets from the reserve to generate yield.
There’s a cap: no more than 10% of the total reserve can be invested in any fiscal year.
The bill defines “digital assets” broadly—covering Bitcoin, stablecoins, NFTs, and other blockchain-based tokens with financial or access-related value.
Arizona Also Eyes Bitcoin-Specific Reserve
This isn’t Arizona’s only crypto play. A second bill, SB 1025, passed the House earlier this month. That bill, dubbed the Arizona Strategic Bitcoin Reserve Act, would allow the state to invest up to 10% of its funds directly into virtual currency holdings, with a particular focus on Bitcoin.
If both measures pass, Arizona could become a pioneer in state-level crypto treasury management, paving the way for other U.S. states to follow.
Kosta Gushterov
Reporter at Coindoo
Kosta has been a part of the team since 2021 and has solidified his position with a thirst for knowledge, incredible dedication to his work and a “detective-like” mindset. He not only covers a wide range of trending topics, he also creates reviews, PR articles and educational content. His work has also been referenced by other news outlets.
Source: https://coindoo.com/arizona-moves-closer-to-holding-crypto-in-state-reserves/