On February 27, Arizona lawmakers passed SB1025 and SB1373, awaiting Governor Katie Hobbs' signature to potentially make Arizona a leader in state-level government cryptocurrency investing. SB1025 focuses on Bitcoin as an investment asset.
SB1373 creates infrastructure for managing various digital assets. SB1025 would allow the state treasurer and retirement systems to invest up to 10% of public funds in Bitcoin.
SB1373 establishes a fund to hold digital assets, including Bitcoin, stablecoins, and NFTs, managed by the State Treasurer. The Governor's approval is pending amidst budget negotiations and partisan tensions, despite a budget dispute resolution last Friday.