Arizona’s Strategic Digital Assets Reserve Bill, known as SB 1373, has passed through the House Committee of the Whole and is now one vote away from reaching Governor Katie Hobbs for approval. This bill aims to establish a Digital Assets Strategic Reserve Fund, which would consist of digital assets seized via criminal proceedings and managed by the state treasurer. The treasurer would be allowed to invest up to 10% of the fund’s total in digital assets each fiscal year and loan the fund’s assets to enhance returns, provided it maintains financial safety. However, Governor Hobbs has recently opposed several bipartisan bills and vetoed multiple proposals until legislation for disability funding is settled. Simultaneously, another related bill, the Arizona Strategic Bitcoin Reserve Act (SB 1025), which allows investment in Bitcoin, has also progressed through the legislature and awaits a full floor vote.

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