In a successful move, the US House Committee of the Whole passed Arizona’s Strategic Digital Assets Reserve Bill (SB 1373) on April 17. In detail, 60 House members nodded yes for the bill before a third and final reading and a full floor vote. However, amidst this positive movement, the bill is just a step away from reaching the Arizona Governor Katie Hobbs’ desk.
The governor had earlier remarked that all bills that had already been kept for consideration on her desk would be rejected until her government ensures the best bipartisan funding solution that “protects health care for Arizonans with disabilities.”
Furthermore, she criticized Republican lawmakers for allegedly holding funding for Arizonans with disabilities. She has already pushed away 15 bills this week,
What’s the objective of the Crypto Reserve Bill?
The Crypto Reserve Bill of Arizona particularly focuses on setting up a state-controlled Digital Assets Strategic Reserve Fund. These assets, controlled by the state treasurer, consist of funds seized from criminal proceedings. The bill permits the treasurer to invest up to 10% of the fund’s total assets in digital currencies each fiscal year.
The bill also shoulders authority to the treasurer to loan out the assets to guarantee their return. However, the treasurer should be cautious that the loans will not cause any financial risks or significant losses.
Besides the Crypto Reserve Bill, the legislature is also keeping an eye on the Strategic Bitcoin Reserve Act, aka, SB 1025, prepared solely for Bitcoin. This bill is also on the verge of crossing a full floor vote. The bill permits the treasury and retirement system to invest up to 10% of funds in Bitcoin.
Crypto supportive news has been trending in the US since US President Donald Trump’s presidency in January 2025. Trump has introduced a Strategic Bitcoin Reserve in March 2025, treating “bitcoin as a reserve asset”.
