Arizona passes bill to create crypto reserve using public Treasury funds
- Arizona has passed a bill proposing a state-managed cryptocurrency reserve including Bitcoin, stablecoins and NFTs.
- The bill authorizes the state treasurer to lend digital assets and invest through state-registered crypto products to generate returns.
- The governor’s veto threat over unrelated budget issues clouds the bill’s future, despite bipartisan momentum for Arizona’s crypto legislation.
- Annual digital asset investments are expected to be limited to 10% of the state treasury and routed via qualified crypto custodians.
Arizona is moving closer to creating a crypto-backed reserve as the state’s Strategic Digital Assets Reserve Bill (SB 1373) advances, despite veto threats from the Governor over unrelated…
