Arizona positions to become the first US state to remove the Senate bill 1025, which is also known as the “Arizona Strategic Bitcoin Reserve (SBR) Law”, and to vote for a law to approve of Bitcoin investment funds. I am.
Dennis Porter, the CEO and founder of the advocacy group Atshi Act Fund, broke the news in X. In his words, he says: “Strategic bitcoin reserve”. The bill will immediately move to the floor voting by the Senate. Congratulations on the leadership of the co -sponsor Wendy Rogers and Jeff Waening Tar. “
Arizona is leading the Bitcoin Revolution
According to the proposed law, “public funds” (meaning either the state or the retirement system of the state) allowed to invest 10 % or less of the assets under control in cryptocurrencies such as BTC. I am. Specifically, the text is written as follows.
“Public funds can invest 10 % or less of public money based on virtual currency holding. The US Finance Secretary established strategic bitcoin preparation to keep the government's bitcoin. In this case, public funds can be stored in a safe separation account in the strategic Bitcoin protection.
This law defines and defines the “digital expression of value that functions as” the storage media, the unit of the account, and the US dollar or foreign currency expression “. If the Federal Authority creates SBR, the state may choose to store bitcoin in the facility.
Arizona's general fund is said to manage $ 28 billion, but its states have $ 50 billion. Under the proposed law, each fund can assign 10 % of its assets to BTC, showing potential influx into billions of dollars digital assets. The bill does not require 10 % of the state funding, but it is up to the threshold of bitcoin -related investment decisions.
According to Porters, 11 US States have already introduced their bitcoin preliminary bills, and at least 15 states and 16 states are proceeding steadily to pursue similar laws.
The Satoshi Action Fund, which is closely involved in promoting these efforts, states in X: But the introduction of a bill is just the beginning of a journey. In order to truly influence, we must focus on the progress and enactment of the SBR method into a practical policy that forms a stronger and elastic financial future for all Americans. Not. “
After the death of the committee, SB 1025 then moves to the Senate floor for complete voting. If approved, the bill will go to the lower house. In particular, the exact date of the Senate vote has not been announced.
At the time of press, the BTC was traded for $ 102,970.
Special image created in Dall.e, chart of TradingView.com
