Arizona’s Strategic Digital Assets Reserve Bill (SB 1373) has successfully passed the House Committee of the Whole and is one vote away from reaching Governor Katie Hobbs for final approval. The bill aims to create a Digital Assets Strategic Reserve Fund, which would consist of digital assets seized during criminal proceedings, to be overseen by the state’s treasurer. This treasurer would have the authority to invest up to 10% of the fund in digital assets and loan out the assets to enhance returns without increasing financial risk. However, there is uncertainty regarding Governor Hobbs’ support, as she has been known to veto bipartisan bills and has recently imposed a moratorium on bill approvals until disability funding legislation is passed. Concurrently, the Arizona Strategic Bitcoin Reserve Act (SB 1025) is also progressing, allowing investment up to 10% of state treasury and retirement funds in Bitcoin, having already cleared the House Committee. Arizona is positioning itself as a leader in state-level Bitcoin reserves, following similar initiatives in other regions.

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