Arizona poised to create First-in-Nation state crypto reserve fund - Final vote imminent

• Arizona’s proposed Digital Assets Strategic Reserve Fund (SB1307) has received approval and is now in its final stage of review.
• This development comes amid Governor Katie Hobbs’ continued vetoes of bipartisan bills.

Arizona’s Digital Assets Strategic Reserve Fund (SB1307) received backing from the House Committee of the Whole, where 60 members voted on the bill, advancing it to the final voting phase.

This final phase involves the full House deciding whether the bill should be approved or dismissed. If approved, it would only be enacted if Governor Hobbs grants final approval.

The proposed strategic fund would be managed by the state treasurer and primarily consist of assets seized by the state, along with funds approved by the legislature.

The treasurer would be permitted to allocate no more than 10% of the fund annually intodigital assets.

Additionally, a portion of the fund could be lent out to generate returns, provided it does not carry significant financial risk or burden.