Arizona crypto reserve bill passes House committee, heads to third reading

3 weeks ago

Arizona’s Strategic Digital Assets Reserve Bill is 1 ballot distant from hitting Governor Katie Hobbs’ desk, though she has been precocious vetoing bipartisan bills.

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Arizona crypto reserve measure passes House committee, heads to 3rd reading

One of Arizona’s crypto reserve bills has been passed by the House and is present 1 palmy ballot distant from heading to the governor’s table for authoritative approval.

Arizona's Strategic Digital Assets Reserve Bill (SB 1373) was approved connected April 17 by the House Committee of the Whole, which involves 60 House members weighing successful connected the measure earlier a 3rd and last speechmaking and a afloat level vote.

SB 1373 seeks to found a Digital Assets Strategic Reserve Fund made up of integer assets seized done transgression proceedings to beryllium managed by the state’s treasurer.

Arizona’s treasurer would beryllium permitted to put up to 10% of the fund’s full monies successful immoderate fiscal twelvemonth successful integer assets. The treasurer would besides beryllium capable to indebtedness the fund’s assets successful bid to summation returns, provided it doesn’t summation fiscal risks.

However, a Senate-approved SB 1373 whitethorn beryllium acceptable backmost by Arizona Governor Katie Hobbs, who precocious pledged to veto each bills until the legislature passes a measure for disablement funding.

Hobbs besides has a history of vetoing bills earlier the House and has vetoed 15 bills sent to her table this week alone.