Arizona Senate moves forward with Bitcoin reserve legislation
Arizona’s Bitcoin reserve bill aims to enable public funds and pensions to invest in Bitcoin, marking a significant shift in cryptocurrency adoption and financial strategy.
Arizona lawmakers have advanced a Bitcoin strategic reserve bill, which seeks to deploy the world’s first cryptocurrency as a savings technology for the state.
The Strategic Bitcoin Reserve Act (SB1025), which is co-sponsored by Senator Wendy Rogers and Representative Jeff Weninger, was passed by the Arizona State Senate Finance Committee with a five to two vote on Jan. 27.
The bill will now move to the Senate Rules Committee for final debate and amendments. Approval by the Senate would advance the bill to the House of Representatives.
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Author: Zoltan Vardai
