Arizona’s Crypto Reserve Bill Heads to Final House Vote

Arizona’s Digital Asset Reserve bill, also known as SB 1373 or the Strategic Digital Asset Reserve Bill, is advancing in the legislative process. After clearing the Committee of the Whole, the bill moved one step closer to becoming law on April 17 when it was approved by the full House in a preliminary review. The bill proposes the creation of a fund composed of digital assets seized in criminal proceedings, which would be managed by the state treasurer. The treasurer would be authorized to invest up to 10% of the fund’s total value in digital assets per fiscal year and loan out the fund’s holdings, provided the action does not increase the fund’s financial risk profile. This progress makes Arizona one of the leading states in terms of crypto regulation.