The Senate Finance Committee in Arizona SB1025, also known as "Bitcoin Strategic Reserve Law in Arizona".

Verb It is approved In vote 5-2. The draft law seeks to sponsor Senator Wendy Rogers and actor Jeff Winnger, and Bell seeks to allow up to 10 % of Arizona's public funds, including the treasurer and retirement system, to invest in Bitcoin (BTC) And other digital assets.

The draft law now will extend to the Senate Rules Committee, which will create instructions for discussion and possible amendments in the Senate Hall. If the full Senate approved it, the draft law will submit to the House of Representatives in Arizona.

If it is transferred to the law, Arizona will become the first American state to integrate bitcoin into its financial strategy. The proposed legislation includes measures to store Bitcoin's government's government's bodies safely in separate accounts, ensuring the management of these digital assets responsibly.

Federal strategic bitcoin reserves

The legislation also supports the establishment of a reserve reserve for the federal strategic Bitcoin reserve, which can store the assets of the state -controlled currency.

Dennis Porter, CEO of Satoshi's Labor Fund, High Arizona's move is part of a wider direction, with eleven states Already Bitcoin reserves are similar.

The progress of the law is in line with recent developments in the cryptocurrency policy at the federal level. The US Senate recently certain Scott Bessin Kezer Treasury, with Bessco support support Bitcoin while opposing the Central Bank digital currencies.

Last year, Arizona State Senate Agree on an invoice Urging the state retirement systems to monitor the investment funds circulating in Bitcoin as possible investment options. The bill emphasized the work with the companies approved by SEC before making any portfolio additions.