The Arizona House of Representatives has passed two significant bills allowing the state to consider establishing a cryptocurrency reserve. During third readings on April 28, Senate Bill 1025 (SB1025) was approved with 31 votes in favor and 25 against, while a similar measure, SB1373, garnered 37 supporters and 19 opposed. SB1025 aims to amend Arizona statutes to permit the state treasurer to invest up to 10% of state funds into Bitcoin and potentially other cryptocurrencies. State Representative Jeff Weninger emphasized that this initiative is reflective of a trend among approximately 15 other states assessing similar legislation. He noted that the investment framework would likely begin as an option rather than a requirement, adjusting as the cryptocurrency landscape evolves. As this story develops, more details will be forthcoming on these proposed reforms regarding cryptocurrency reserves in Arizona.

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