cryptonews 2025-04-18 03:50:46

Arizona’s Crypto Reserve Bill Nears Final Approval After House Passage

Arizona’s push to integrate digital assets into state financial infrastructure is nearing a critical milestone as the crypto reserve bill moves ahead. The state’s Strategic Digital Assets Reserve Bill (SB 1373) passed the House Committee of the Whole on April 17 and now awaits one final vote before heading to Governor Katie Hobbs for approval. The crypto reserve bill proposes the creation of a Digital Assets Strategic Reserve Fund, which would consist of digital assets seized during criminal proceedings. Arizona Treasurer May Gain Power to Invest 10% of State Crypto Fund Annually The fund would be managed by Arizona’s state treasurer, who would be authorized to invest up to 10% of its total balance in digital assets each fiscal year. Additionally, the treasurer could lend out fund assets to generate returns, provided this does not elevate financial risk. Despite clearing the House committee stage, the bill’s path forward remains uncertain. Governor Hobbs has vowed to veto all legislation until lawmakers address funding for disability services. She has already rejected 15 bills this week and has previously exercised veto power on several House-approved proposals. SB 1373 is advancing in parallel with another digital asset-focused proposal, the Arizona Strategic Bitcoin Reserve Act (SB 1025). This bill would allow Arizona’s treasury and state retirement fund to invest up to 10% of available assets specifically in Bitcoin. It passed the House Committee of the Whole on April 1 and is also awaiting a final vote. ARIZONA Update: Bitcoin Reserve Bill SB 1373 has been passed by the House Committee of the Whole (with a minor amendment). The next step is Third Reading and final floor vote. pic.twitter.com/oOahjbZATR — Bitcoin Laws (@Bitcoin_Laws) April 17, 2025 Arizona now finds itself at the forefront of the growing state-level crypto reserve movement. While Utah passed Bitcoin-related legislation in early March , it removed the Bitcoin reserve provision during final approval. Texas and New Hampshire, however, have seen similar bills advance through their legislatures, with the Texas Senate approving its Bitcoin reserve bill on March 6. Just recently, Kentucky Governor Andy Beshear officially signed House Bill 701 , known as the “Bitcoin Rights” bill, into law—making the state one of the latest to enact legislation protecting digital asset users and operations. Missouri is also in the mix , with its Special Committee on Intergovernmental Affairs reviewing its own Bitcoin reserve proposal. Public Companies Boost Bitcoin Holdings by 16% in Q1 2025 Publicly traded companies increased their Bitcoin holdings by 16.1% in the first quarter of 2025, signaling continued institutional interest in the leading cryptocurrency despite market volatility. According to crypto asset manager Bitwise, total corporate Bitcoin holdings climbed to approximately 688,000 BTC by the end of Q1, with companies adding 95,431 BTC over the three-month period. Bitwise reported the combined value of these holdings reached $56.7 billion, based on a Q1 closing price of $82,445 per Bitcoin—representing a 2.2% increase in value. The number of public companies with Bitcoin on their balance sheets also rose, from 67 to 79, with 12 firms making their first Bitcoin purchases during the quarter. The post Arizona’s Crypto Reserve Bill Nears Final Approval After House Passage appeared first on Cryptonews .

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