The Arizona digital asset reserve bill has been passed by the House committee.

GateUser-6433627c · 2025-04-18T12:27:29+00:00

The Arizona House Committee has passed the "Strategic Digital Asset Reserve Act" (SB 1373), which proposes the establishment of a digital asset strategic reserve fund. This allows the Treasurer to seize Crypto Assets deposited into the fund and lend them out for returns, but the investment amount cannot exceed 10% of the total fund deposits. The bill still needs to undergo three readings and a full vote before being sent to the Governor for approval.

GateUser-6433627c

2025-04-18 12:27:29

Abstract generation in progress

[Arizona Digital Asset Reserve Act Passed in House Committee] Arizona’s Strategic Digital Asset Reserve Act (referred to as “SB 1373”) was passed by the House Committee on Thursday. The bill still requires three readings and a vote by the full body before it can be sent to the governor for final approval. The SB 1373 bill proposes the establishment of a Digital Asset Strategic Reserve Fund, which will consist of funds appropriated by the legislature and seized Crypto Assets. The bill states that the state treasurer will be allowed to deposit seized coins into the fund through qualified custodial solutions or state-registered exchange-traded products, and the treasurer can borrow digital assets from the fund for additional returns. The bill stipulates that “the state treasurer’s investment amount in any fiscal year shall not exceed 10% of the total deposits in the fund.”

View Original

This page may contain third-party content, which is provided for information purposes only (not representations/warranties) and should not be considered as an endorsement of its views by Gate, nor as financial or professional advice. See Disclaimer for details.