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
American Bitcoin's two board members make large purchases of company stock after the earnings release
Two board members of American Bitcoin (ABTC), a Bitcoin mining company supported by the Trump family, made large-scale stock purchases after the earnings report was released, with Justin Mateen buying approximately 1.3 million shares and Richard Busch buying about 330,000 shares.
GateNews4m ago
Wyoming-based Bitcoin reserve investment company Strive holds approximately 7,580 shares
Wyoming State purchased shares in the Bitcoin reserve company Strive Inc., becoming one of the few U.S. state governments directly holding Bitcoin. The state owns approximately 7,580 shares of Strive Class A common stock, valued at about $111,000, reflecting its policy stance in support of crypto innovation. Strive currently holds about 13,132 Bitcoins, with strong market performance.
GateNews19m ago
Chamath Palihapitiya: Bitcoin as a Central Bank Reserve Asset Has Structural Flaws
Billionaire venture capitalist Chamath Palihapitiya stated that Bitcoin has structural flaws that limit its widespread adoption by governments and central banks, particularly in terms of privacy and homogeneity. He believes Bitcoin struggles to meet central bank needs but remains optimistic about digital financial innovation.
GateNews22m ago
