Odaily News Arizona lawmakers have introduced a bill that would allow public funds to be invested in Bitcoin and other digital assets, and the state’s Senate Finance Committee approved the bill in a 5-2 vote on January 27.
The proposed legislation, co-sponsored by Wendy Rogers and Jeff Weninger, is called SB 1025, or the “Arizona Strategic Bitcoin Reserve Act,” and would allow the state to invest up to 10% of public funds, including funds held by the state treasurer and retirement systems, in cryptocurrencies such as Bitcoin.
The bill also includes provisions for digital assets to be held in secure segregated accounts within a potential federal strategic bitcoin reserve if the U.S. Treasury Secretary establishes a strategic bitcoin reserve for government assets. (Crypto Briefing)