Crypto In The Desert: Arizona Reserve Bill Advances
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Arizona’s push to develop a state-run cryptocurrency reserve gained momentum with the Strategic Digital Assets Reserve Bill (SB 1373) clearing a crucial hurdle in the upper chamber of the House Committee of the Whole on April 17. The bill aims to create a Digital Assets Strategic Reserve Fund comprised of digital assets seized in criminal proceedings. The state treasurer would manage this fund and could invest up to 10% of its total amount into digital assets each year, with the possibility of lending the assets to enhance returns, provided it does not increase financial risks. The bill is set for a final vote before potentially reaching Governor Katie Hobbs.
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