Now the document passes to the Senate Standards Committee, before its debate in plenary.
The project proposes an investment of 10% of Arizona’s public funds in BTC.
The state of Arizona was in the lead in the race to create a state Bitcoin (BTC) reserve, after the bill to form that treasure was approved in the State’s Finance Commission.
As appreciate On the Senate website, the vote for the approval of the SB1025 bill, also known as “Arizona Bitcoin Strategic Reserve Law”, was 5-2 in the Committee. Now, the document will go to the Senate Standards Committee and, from there, to his discussion in the plenary.
He billpromoted by congressmen Wendy Rogers and Jeff Weninger, proposes that up to 10% of Arizona’s public funds are invested in Bitcoin. This includes the funds of the State Treasurer and retirement systems. This investment percentage in Bitcoin It could represent a significant change in how state resources are handled.
The proposal also includes provisions for store digital assets in a segregated account And safe within a possible Federal Bitcoin strategic reserve, if the Treasury Secretary decides to establish such a reserve for Bitcoin government holdings.
Arizona is not alone in this movement. The bill is one of until now 12 similar proposals that have been presented in other US states, evidencing a growing interest in the formation of bitcoin reserves at the state level, rather than at the federal level. This phenomenon reflects a tendency towards acceptance and regulation of BTC by local governments.
BTC reserves are booming, especially after it was confirmed that the US would create their own digital assets treasury, as approved in the recently approved executive order of President Donald Trump. This order, as cryptootics reported, is not limited only to Bitcoin, but covers digital assets in general, marking a significant step towards the integration of cryptocurrencies in the legal and financial framework of the country.
Arizona’s advance in this field could serve as a precedent for other states that They already explore the expansion of their cryptocurrency investment policies. The approval of this project in the following stages could mark a milestone in how US states address public investment in digital assets.
The discussion in the plenary will be key to determining if Arizona will become the first state to formalize a Bitcoin reserve with public funds. This step not only implies a new form of financial management, but also It could influence the perception and regulation of cryptocurrencies nationwide.