{"id":128148,"date":"2025-04-28T22:17:33","date_gmt":"2025-04-28T22:17:33","guid":{"rendered":"http:\/\/cryptospotters.net\/?p=128148"},"modified":"2025-04-28T22:17:33","modified_gmt":"2025-04-28T22:17:33","slug":"arizona-legislature-moves-forward-with-bitcoin-reserve-bills","status":"publish","type":"post","link":"http:\/\/cryptospotters.net\/?p=128148","title":{"rendered":"Arizona legislature moves forward with Bitcoin reserve bills"},"content":{"rendered":"<p>Source: Cointelegraph.com NewsLawmakers in the Arizona House of Representatives have voted to pass two bills that could allow the state to adopt a reserve using Bitcoin (BTC) or other cryptocurrencies.<br \/>\nIn a third reading on April 28 of the Senate Bill 1025 (SB1025), a proposal to amend Arizona\u2019s statutes to allow for a strategic BTC reserve, 31 members of the Arizona House voted in favor of the bill, with 25 opposed. A similar bill, SB1373, to establish a state-level digital assets reserve, passed with 37 lawmakers in favor and 19 voting nay.<br \/>\n\u201cThis bill basically takes the approach that probably 15 other states are considering the same legislation nationwide that allows the treasurer to invest up to 10% into, probably mainly Bitcoin but other things as well,\u201d said State Representative Jeff Weninger on SB1025. \u201cI think this probably would start as a \u2018may\u2019 for the foreseeable future, but as things continue to pivot towards Bitcoin and these things, would have that already in place in the future.\u201d<br \/>\nVoting for SB1025 in the Arizona House of Representatives on April 28. Source: Arizona State LegislatureThe approvals bring the bills closer than any other state-level initiative in the US to getting a cryptocurrency or Bitcoin strategic reserve signed into law. Similar legislation proposed in New Hampshire passed the state\u2019s House in April and is expected to head to the Senate for a full floor vote soon.<br \/>\nRelated: Bitcoin reserve backlash signals unrealistic industry expectations<br \/>\nArizona Governor Katie Hobbs announced on April 17 that she intended to veto any bill until lawmakers had a \u201cserious, bipartisan funding solution that protects healthcare for Arizonans with disabilities.\u201d However, with the passage of such legislation on April 24, the governor could be more open to signing SB1025 or SB1373 into law.<br \/>\nFederal plans to establish a national crypto reserve<br \/>\nThe state-level efforts to create Bitcoin reserves come amid a push from US President Donald Trump and Republican lawmakers to do the same in the federal government.\u00a0<br \/>\nTrump signed an executive order in March with a proposal for a \u201cStrategic Bitcoin Reserve\u201d and a \u201cDigital Asset Stockpile.\u201d<br \/>\nWyoming Senator Cynthia Lummis, a Trump supporter and crypto advocate, proposed that Congress pass legislation that could allow the US government to hold more than 1 million BTC, in part through crypto seized through civil or criminal forfeiture. Lawmakers have suggested Lummis\u2019s bill was an attempt by Congress to codify Trump\u2019s EO into law.<br \/>\nMagazine: Bitcoin $100K hopes on ice, SBF\u2019s mysterious prison move: Hodler\u2019s Digest, April 20 \u2013 26<a href=\"https:\/\/cointelegraph.com\/news\/arizona-legislature-bitcoin-reserve-bill-third-reading?utm_source=rss_feed&amp;utm_medium=rss&amp;utm_campaign=rss_partner_inbound\" target=\"_blank\" class=\"feedzy-rss-link-icon\" rel=\"noopener\">Read More<\/a><\/p>","protected":false},"excerpt":{"rendered":"<p>Source: Cointelegraph.com NewsLawmakers in the Arizona House of Representatives have voted to pass two bills that could allow the state to adopt a reserve using Bitcoin (BTC) or other cryptocurrencies.&hellip; <\/p>\n","protected":false},"author":0,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[5],"tags":[],"_links":{"self":[{"href":"http:\/\/cryptospotters.net\/index.php?rest_route=\/wp\/v2\/posts\/128148"}],"collection":[{"href":"http:\/\/cryptospotters.net\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/cryptospotters.net\/index.php?rest_route=\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"http:\/\/cryptospotters.net\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=128148"}],"version-history":[{"count":0,"href":"http:\/\/cryptospotters.net\/index.php?rest_route=\/wp\/v2\/posts\/128148\/revisions"}],"wp:attachment":[{"href":"http:\/\/cryptospotters.net\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=128148"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/cryptospotters.net\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=128148"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/cryptospotters.net\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=128148"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}