Bitcoin: Arizona To Become First US State To Vote On Strategic Reserve Bill
Arizona has advanced Senate Bill 1025 — also known as the “Arizona Strategic Bitcoin Reserve (SBR) Act” — out of committee, positioning it to become the first US state to vote on legislation that would authorize investing state funds in Bitcoin. Dennis Porter, CEO and founder of the advocacy group Satoshi Act Fund, broke the […]
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Arizona, one of the first states to establish a Bitcoin (BTC) reserve, has revived a failed crypto legislation seeking to update the state’s forfeiture law to include digital assets. Related Reading: In The Shadows: Two-Thirds Of Crypto Miners Still Unregistered In Russia Arizona Lawmakers Reconsider Failed Bitcoin Reserve Bill The Arizona State Senate voted to […]
The race to establish Bitcoin as a state-level strategic reserve asset has taken a decisive step forward in the Beehive State. On February 20, House Bill 230 (HB230), also known as the “Blockchain and Digital Innovation Amendments,” passed the Senate Revenue and Taxation Committee in a 4-2-1 vote. The legislation, which already cleared the state […]
Arizona State Governor Katie Hobbs has vetoed a legislative bill that would have allowed the creation of a Bitcoin reserve. The Grand Canyon state joins a growing list of other US states where legislative efforts to direct state investment to Bitcoin have proven futile. Related Reading: History Rhymes: Will Bitcoin Repeat Classic Breakout Pattern To […]
The close of last week coughed up some rather unpleasant news for Bitcoin (and crypto) supporters. Arizona’s governor, Katie Hobbs, announced her decision to veto Senate Bill 1025, also known as the ‘Arizona Strategic Bitcoin Reserve Act.’ SB1025 would have allowed Arizona’s treasurers and public retirement funds to invest up to 10% of state funds into $BTC and other crypto assets. Keep reading to learn more about Arizona’s Bitcoin problem. We’ll also discuss another potential bottleneck crypto is currently facing. Do stick around until the end because....
Arizona lawmakers are weighing a bill that would let the state keep digital assets in a reserve instead of selling them off, and XRP is one of the names on the list. Related Reading: Bitcoin Ends 5-Month Losing Run — Real Reversal Or Just April Fool’s Hype? The proposal would place those assets under the state treasurer’s control, and it could also let the state earn extra returns through staking, airdrops, or limited lending if the move does not raise financial risk. What The Fund Would Hold SB1649 creates a Digital Assets Strategic Reserve Fund made up of digital assets that are held by,....