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Arizona’s push to develop state-run cryptocurrency reserves gained momentum this week. One bill cleared a crucial hurdle when the Strategic Digital Assets Reserve Bill (SB 1373) moved through the upper chamber of the House Committee of the Whole on April 17. It is set for a final vote before potentially reaching Governor Katie Hobbs.

Bill Would Create Fund From Seized Crypto Assets

SB 1373 would create a Digital Assets Strategic Reserve Fund comprised of digital assets seized in a criminal proceeding. The state treasurer would manage this fund and could invest up to 10% of its total amount…