Arizona Advances Crypto Bills to Allocate State Funds to Bitcoin
Arizona has advanced two crypto bills, SB1042 and SB1649, which would allow the state to invest up to 10% of its public funds in cryptocurrencies and create a digital asset reserve. The bills have cleared the House Rules Committee and are heading to a full House vote, despite concerns from Governor Katie Hobbs and critics about financial risks and oversight challenges.
Arizona is moving closer to investing public funds in Bitcoin. Two crypto bills, SB1042 and SB1649, have cleared the House Rules Committee. SB1042 would allow the state to invest up to 10% of its public funds in cryptocurrencies. SB1649 proposes a state digital assets reserve, including seized Bitcoin and XRP. The bills are heading to a full House vote. Governor Katie Hobbs and critics have raised concerns about financial risks and oversight challenges.
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