The Arizona House of Representatives has passed two bills proposing the establishment of a cryptocurrency reserve for the state. During the third readings on April 28, Senate Bill 1025 (SB1025) was supported by 31 lawmakers, with 25 voting against it. This proposal seeks to amend existing statutes to allow the state's treasurer to invest up to 10% of state funds into Bitcoin and possibly other cryptocurrencies. Additionally, Senate Bill 1373, which aims to create a state-level digital assets reserve, received broader support, passing with 37 votes in favor and 19 opposed. State Representative Jeff Weninger noted that similar legislation is being considered in approximately 15 other states. He emphasized that while the initial approach may be tentative, it positions Arizona to capitalize on the growing interest in Bitcoin as financial landscapes evolve.

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