ChainCatcher News reports that the Arizona Senate has advanced Bill SB 1649, which proposes establishing a “Digital Asset Strategic Reserve Fund” managed by the state treasury. The bill authorizes the state treasurer to hold, invest, and lend seized, forfeited, or surrendered digital assets through qualified custodians or regulated exchanges.
The bill was approved by the Senate Finance Committee on February 16 with 4 votes in favor and 2 against, and received approval from the Senate Rules Committee. It will be submitted for a full Senate vote. The bill explicitly designates Bitcoin, XRP, DigiByte, stablecoins, and NFTs as qualified assets. It sets a 1% baseline threshold based on Bitcoin reaching $100,000 per coin and uses a “Cryptocurrency Fair Value Score” to evaluate other qualified digital assets. The bill emphasizes that these operations must not increase the state’s financial risk. SB 1649 must first be approved by the Senate, then submitted to the House, and finally signed by the governor.
Disclaimer: The information on this page may come from third parties and does not represent the views or opinions of Gate. The content displayed on this page is for reference only and does not constitute any financial, investment, or legal advice. Gate does not guarantee the accuracy or completeness of the information and shall not be liable for any losses arising from the use of this information. Virtual asset investments carry high risks and are subject to significant price volatility. You may lose all of your invested principal. Please fully understand the relevant risks and make prudent decisions based on your own financial situation and risk tolerance. For details, please refer to
Disclaimer.
Related Articles
Yesterday, Bitcoin spot ETFs had net outflows of $291 million, and Fidelity's FBTC had net outflows of $229 million
On April 13, Bitcoin spot ETF total net outflows were $291 million, BlackRock’s IBIT had net inflows of $34.7012 million, Bitwise’s BITB had net inflows of $11.8758 million, and Fidelity’s FBTC had net outflows of $229 million. Total spot ETF assets net asset value was $94.51B, and the net asset ratio was 6.45%.
GateNews8m ago
Nigel Farage invests 2 million pounds in Bitcoin, becoming the UK’s first openly holding MP
Reform UK leader Nigel Farage bought Bitcoin with roughly £2 million, becoming the first sitting member of Parliament to publicly disclose an investment of this size. The move highlights his party’s support for cryptoassets and could spark debate about the impact on the UK’s crypto policy and potential conflicts of interest. Farage invested via Stack BTC, strengthening his dual political and financial endorsement.
MarketWhisper10m ago
Lava Network Brings Bitcoin Cash Online With Reliable RPC Infrastructure
Bitcoin Cash is officially live on Lava Network, and it is a big advancement towards decentralized infrastructure to support scalable payments. The integration brings on board RPC access to BCH mainnet and BCH testnet which allows developers, applications and users to interact with the network
BlockChainReporter19m ago
