ChainCatcher News reports that the Arizona Senate has advanced Bill SB 1649, which proposes establishing a “Digital Asset Strategic Reserve Fund” managed by the state treasury. The bill authorizes the state treasurer to hold, invest, and lend seized, forfeited, or surrendered digital assets through qualified custodians or regulated exchanges.
The bill was approved by the Senate Finance Committee on February 16 with 4 votes in favor and 2 against, and received approval from the Senate Rules Committee. It will be submitted for a full Senate vote. The bill explicitly designates Bitcoin, XRP, DigiByte, stablecoins, and NFTs as qualified assets. It sets a 1% baseline threshold based on Bitcoin reaching $100,000 per coin and uses a “Cryptocurrency Fair Value Score” to evaluate other qualified digital assets. The bill emphasizes that these operations must not increase the state’s financial risk. SB 1649 must first be approved by the Senate, then submitted to the House, and finally signed by the governor.
Disclaimer: The information on this page may come from third parties and does not represent the views or opinions of Gate. The content displayed on this page is for reference only and does not constitute any financial, investment, or legal advice. Gate does not guarantee the accuracy or completeness of the information and shall not be liable for any losses arising from the use of this information. Virtual asset investments carry high risks and are subject to significant price volatility. You may lose all of your invested principal. Please fully understand the relevant risks and make prudent decisions based on your own financial situation and risk tolerance. For details, please refer to
Disclaimer.
Related Articles
Strategy added another 4,871 bitcoin for $330 million, with holdings nearing 767,000 BTC
Michael Saylor's Strategy (MSTR) purchased 4,871 bitcoins for $329.9 million, increasing its total holdings to 766,970 BTC. Despite significant unrealized losses, it remains the largest corporate holder of bitcoin.
CoinDesk11m ago
BitMine position update: holds over 4.8 million ETH and 198 BTC, with total assets of $11.4 billion
BitMine released a holdings update on April 6. The total value of its crypto assets and moonshots reached $11.4 billion. It holds ETH, BTC, and multiple equity positions, and has been approved to upgrade from NYSE American to the NYSE main board. The stock will begin trading in the new market on April 9.
GateNews36m ago
Strive increases its holdings by 113 BTC, bringing total holdings to 13,791 BTC and ranking ninth
Bitcoin treasury company Strive recently increased its holdings by 113 BTC, bringing its total holdings to 13,791 BTC, ranking ninth. CEO Matt Cole hinted that it will surpass a certain CEX that holds 15,389 BTC.
GateNews47m ago
