Lawmakers in Arizona have passed a bill allowing the state treasurer and retirement system to invest up to 10% of available funds in digital assets, specifically bitcoin, sending it to the governor’s desk for approval, according to Bloomberg Government.
The bill, called the Arizona Strategic Bitcoin Reserve Act, passed Monday in the state legislature, Bloomberg Government reported.
“This bill represents an emerging approach by a state government to integrate cryptocurrency into public financial management, reflecting the growing mainstream acceptance of digital assets,” according to the bill text’s summary.
The bill’s cosponsors are both Republicans: Sen. Wendy Rogers and Rep. Jeff Weninger. If signed by Democratic Governor Katie Hobbs, the state would be the first to require public funds to invest in Bitcoin.
Several states, including Iowa, Missouri, and Texas, are weighingwhether to establish a strategic bitcoin reserve. At the federal level, President Donald Trump signed an executive order in March establishing a strategic bitcoin reserve and digital asset stockpile.
Continue Reading: https://www.theblock.co/post/352282/arizona-legislature-passes-bitcoin-reserve-bill-sends-it-to-governors-desk-bloomberg-government
(NBC News) Arizona Legislature pushes for a state bitcoin reserve
“Republican state Sen. Wendy Rogers, who sponsored one of the pieces of legislation, said it’s in Hobbs’ best interest to sign the legislation. ‘Crypto and bitcoin have a huge following nationwide and in Arizona. They are wildly popular with the youth and independents,’ Rogers said, adding: ‘I certainly hope she signs it, because she can take credit and it will make her look good.'”
Read Article: https://www.nbcnews.com/politics/economics/arizona-legislature-pushes-state-bitcoin-reserve-rcna203612
(Namecoin News) Arizona Legislature Moves its Bitcoin Reserve Bill for Governor’s Approval
“The bill, backed by Republican lawmakers Senator Wendy Rogers and Representative Jeff Weninger, allows the state treasurer and retirement system to invest up to 10% of available funds in Bitcoin and other digital assets. The bill now is moved for the approval from Democratic Governor Katie Hobbs.”
Read Article: https://www.namecoinnews.com/arizona-bitcoin-reserve-bill-governor/
(CryptoSlate) Arizona Legislature Moves its Bitcoin Reserve Bill for Governor’s Approval
“Arizona became the first state in the nation to pass legislation creating a Strategic Bitcoin Reserve after both chambers of the legislature approved the measure in votes that broke largely along party lines on April 28.”
Read Article: https://cryptoslate.com/arizona-legislature-passes-bitcoin-reserve-bill-governor-approval-pending/
(Coin Codex) $3.14B Into Bitcoin? Arizona Just Passed a Game-Changing Bill
“With Arizona’s available public funds totaling roughly $31.4 billion, a full 10% allocation would mean $3.14 billion in Bitcoin purchases—a move that could shake crypto markets and catalyze a wave of state-level crypto adoption.”
Read Article: https://coincodex.com/article/66761/314b-into-bitcoin-arizona-just-passed-a-game-changing-bill/
(Crypto.News) Arizona becomes first U.S. state to pass Strategic Bitcoin Reserve bill
“Senate Bill 1025 was approved by the Arizona House by a vote of 31 to 25, according to the state legislature’s website. The bill, sponsored by Republican Senator Wendy Rogers, is a daring step toward incorporating cryptocurrency into state-level financial strategy. It permits the state treasury to invest up to 10% of public funds in Bitcoin.”
Read Article: https://crypto.news/arizona-becomes-first-u-s-state-to-pass-strategic-bitcoin-reserve-bill/
(OPA News) Arizona Legislature Passes Bitcoin Reserve Bill, Sends It to Governor
“The bill was jointly initiated by Republican lawmakers Wendy Rogers and Jeff Weninger, aiming to incorporate cryptocurrencies into public financial management. Currently, several states including Iowa, Missouri and Texas are considering similar legislation.”
Read Article: https://www.panewslab.com/en/articledetails/t2651lt2.html