{"id":48488,"date":"2025-02-28T08:34:20","date_gmt":"2025-02-28T08:34:20","guid":{"rendered":"https:\/\/mycryptomania.com\/?p=48488"},"modified":"2025-02-28T08:34:20","modified_gmt":"2025-02-28T08:34:20","slug":"arizona-senate-advances-bitcoin-reserve-bill-trails-utah-in-crypto-legislation-race","status":"publish","type":"post","link":"https:\/\/mycryptomania.com\/?p=48488","title":{"rendered":"Arizona Senate Advances Bitcoin Reserve Bill, Trails Utah In Crypto Legislation Race"},"content":{"rendered":"

Arizona\u2019s Senate has taken a significant step toward adopting Bitcoin as part of its financial strategy, passing the Strategic Digital Assets Reserve bill (SB 1373)<\/a> on February 27. <\/span><\/p>\n

With a vote of 17-12, the bill <\/span>now<\/span> moves to the state\u2019s House for further consideration. The development places Arizona behind Utah in the race to become the first U.S. state to approve a crypto investment bill.<\/span><\/p>\n

The legislation, sponsored by Republican Senator Mark Finchem, proposes the creation of a Digital Assets Strategic Reserve Fund, which would be managed by the state treasurer.<\/span><\/p>\n

EXPLORE:\u00a0<\/span>Best New Cryptocurrencies to Invest in 2025<\/span><\/a><\/strong><\/p>\n

Arizona\u2019s Bitcoin Reserve Fund to Include Seized Crypto and Appropriated Funds<\/span><\/h2>\n

The fund would consist of <\/span>both<\/span> appropriated funds and cryptocurrency seized by the state. The bill limits digital asset investments to 10% of total fund deposits per fiscal year, and the treasurer is permitted to loan digital assets to generate returns, provided it does not increase financial risk to the state.<\/span><\/p>\n

Alongside SB 1373, another bill\u2014the Strategic Bitcoin Reserve Act (SB 1025)\u2014<\/span>also<\/span> cleared the Senate on February 27 with a 17-11 vote. Co-sponsored by Republican Senator Wendy Rogers and Representative Jeff Weninger, SB 1025 focuses on expanding public investment authority to include Bitcoin and other digital assets.<\/span><\/p>\n

The two bills take different approaches: while Finchem\u2019s bill (SB 1373) establishes a designated reserve fund for crypto investments, Rogers and Weninger\u2019s bill (SB 1025) aims to allow broader public investment in digital assets.<\/span><\/p>\n

ARIZONA Update:<\/p>\n

Bitcoin Reserve Bill SB 1373 has passed the Senate third reading, by a vote of 17-12.<\/p>\n

Now moves to the House. AZ moves up to second place in the Reserve Race. pic.twitter.com\/yTOPwW05GW<\/a><\/p>\n

\u2014 Bitcoin Laws (@Bitcoin_Laws) February 28, 2025<\/a><\/p>\n\n

Arizona is among 18 U.S. states currently considering Bitcoin reserve bills, but only Arizona and Utah are in the final stages of legislative approval. Meanwhile, similar proposals have <\/span>been rejected<\/span> in Montana, Wyoming, North Dakota, South Dakota, and Pennsylvania.<\/span><\/p>\n

The growing interest in state-backed Bitcoin reserves <\/span>has <\/span>been fueled<\/span> by President Donald Trump\u2019s pro-crypto stance<\/span>, which has encouraged lawmakers to explore digital asset strategies.<\/span><\/p>\n

However, Bitcoin\u2019s recent 17% decline over the past week, driven by economic uncertainty and Trump\u2019s proposed tariffs, has raised questions about short-term market stability.<\/span><\/p>\n

EXPLORE:\u00a0<\/span>10 Coins with High Returns: Crypto Forecast 2025<\/span><\/a><\/strong><\/p>\n

University Of Austin To Launch $5M Bitcoin Fund<\/span><\/h2>\n

The University of Austin is\u00a0<\/span>launching a $5 million<\/span><\/a> Bitcoin fund as part of its $200 million endowment.\u00a0<\/span><\/p>\n

Notably, the precedent is set by Emory University. In a regulatory filing last October, it was disclosed that over $15 million in Bitcoin was invested\u00a0through Grayscale\u2019s spot Bitcoin exchange-traded fund (ETF).<\/span><\/p>\n

Beyond university endowments, cryptocurrency is gaining traction in the retirement sector as well. A recent\u00a0<\/span>Bitget Research<\/span><\/em>\u00a0report revealed that up to 20% of Generation Z and Generation Alpha are open to receiving pensions in cryptocurrency.<\/span><\/p>\n

EXPLORE:\u00a0<\/span>10 Best AI Crypto Coins to Invest in 2025<\/span><\/a><\/strong><\/p>\n

\n

Key Takeaways<\/h3>\n

Arizona\u2019s Senate has passed the Strategic Digital Assets Reserve bill (SB 1373).<\/span> <\/p>\n

Arizona and Utah are leading the race among 18 U.S. states considering Bitcoin reserve bills.<\/span> <\/p>\n

The push for Bitcoin reserves is fueled by President Trump\u2019s pro-crypto stance, but Bitcoin\u2019s recent 17% decline has raised concerns about market stability.<\/span> <\/p><\/div>\n

The post Arizona Senate Advances Bitcoin Reserve Bill, Trails Utah In Crypto Legislation Race<\/a> appeared first on 99Bitcoins<\/a>.<\/p>","protected":false},"excerpt":{"rendered":"

Arizona\u2019s Senate has taken a significant step toward adopting Bitcoin as part of its financial strategy, passing the Strategic Digital Assets Reserve bill (SB 1373) on February 27. With a vote of 17-12, the bill now moves to the state\u2019s House for further consideration. The development places Arizona behind Utah in the race to become […]<\/p>\n","protected":false},"author":0,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-48488","post","type-post","status-publish","format-standard","hentry","category-discovery"],"_links":{"self":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/48488"}],"collection":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=48488"}],"version-history":[{"count":0,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/48488\/revisions"}],"wp:attachment":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=48488"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=48488"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=48488"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}