Arizona digital asset reserve bill passes House committee
"Strategic Digital Asset Reserve Act" in Arizona (referred to as "SB 1373") was passed by the House Committee on Thursday. Currently, the bill still needs to go through three readings and a full vote before it can be sent to the governor for final approval. The SB 1373 bill proposes the establishment of a digital asset strategic reserve fund, which will be composed of appropriations from the legislative body and confiscated cryptocurrency assets by the authorities. The bill states that the state treasurer will be allowed to deposit confiscated cryptocurrencies into the fund through qualified custody solutions or state-registered exchanges, and the treasurer can borrow digital assets from the fund for additional returns. The bill states, "The state treasurer shall not invest an amount exceeding 10% of the total deposits in the fund in any fiscal year."
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
Ledger Launches Solana-Themed Flex Wallet Version with $SBT Token
XRP: Cryptocurrency About to Explode? Analyst Highlights Rare Signal in RSI
Democrats accuse Trump of corruption over dinner with meme coin investors
Michigan Lawmakers Propose Four New Crypto-Related Bills to Regulate and Support Digital Assets
Michigan legislators have introduced four new bills to regulate and foster the growth of cryptocurrency and blockchain technology within the state.

Trending news
MoreCrypto prices
More








