One of Arizona’s crypto reserve bills has been approved by the House and is just one successful vote away from reaching the governor’s desk for official approval.
The Strategic Digital Assets Reserve Bill (SB 1373) was cleared by the House Committee of the Whole on April 17, which includes input from 60 House members before a final reading and full floor vote.
SB 1373 aims to create a Digital Assets Strategic Reserve Fund, comprising digital assets seized in criminal cases, to be managed by the state treasurer.
The treasurer would be allowed to invest up to 10% of the fund annually in digital assets and could loan fund assets to boost returns, as long as it doesn’t increase financial risks.
However, even with Senate approval, SB 1373 may face setbacks as Arizona Governor Katie Hobbs recently vowed to veto all bills until a disability funding bill is passed. Hobbs also has a track record of vetoing bills; she vetoed 15 bills just this week.
