Arizona’s digital asset reserve bill passes the House Commerce Committee with a 6-4 vote.
The Arizona Strategic Digital Asset Reserve Bill (SB 1373) passed the state’s House Commerce Committee with a 6-4 vote, with Republicans in favor and Democrats opposed.
If approved, SB 1373 would establish a “Strategic Digital Asset Reserve Fund” within the state treasurer’s office. The fund would consist of legislatively allocated funds and digital assets seized and confiscated by the state.
The treasurer would have the authority to use up to 10% of the total fund deposits each fiscal year and could lend digital assets to generate returns, as long as such actions do not increase financial risks to the state.
SB 1373, introduced by Republican Mark Finchem, is not the only bill related to a strategic digital asset reserve moving forward in the state. SB 1025, co-sponsored by Republican Senator Wendy Rogers and Representative Jeff Weninger, has also passed the Arizona Senate. This second bill explicitly grants public funds the authority to operate with digital assets.
Along with Texas, Arizona is among the leaders in the race to establish a state Bitcoin and digital asset reserve. In contrast, other states like Montana, Wyoming, North Dakota, South Dakota, and Pennsylvania have rejected similar legislative proposals.
