Arizona\u2019s Senate has advanced a Bitcoin reserve bill, bringing it to second place behind Utah in a race between US states to get a crypto investment bill approved.\u00a0<\/p>\n
The Arizona Senate passed<\/a> the Strategic Digital Assets Reserve bill (SB 1373) on its third reading on Feb. 27 with a vote of 17 for and 12 against. It now advances to the state\u2019s House.<\/p>\n The bill<\/a>, sponsored by Republican Senator Mark Finchem, would create a \u201cDigital Assets Strategic Reserve Fund\u201d administered by the state treasurer that would consist of money appropriated by the legislature and crypto seized by the state.<\/p>\n The treasurer can\u2019t invest more than 10% of the total fund deposits in any fiscal year but may loan digital assets from the fund to generate returns if it doesn\u2019t increase financial risks to the state.<\/p>\n \u201c[Whether] you like it or not, legislation will happen at the federal level in this order: Stablecoins, Market Structure, and Strategic Bitcoin Reserve,\u201d Satoshi Action Fund founder Dennis Porter said<\/a> in a Feb. 28 X post<\/a>.<\/p>\n Arizona moves up in the strategic reserve race. Source: <\/em>Bitcoin Laws<\/em><\/a><\/p>\n<\/figcaption><\/figure>\n Another Bitcoin reserve bill is also making its way<\/a> through Arizona\u2019s Senate. The Strategic Bitcoin Reserve Act (SB 1025), co-sponsored by Republican Senator Wendy Rogers and Representative Jeff Weninger, also passed<\/a> the Senate\u2019s third reading on Feb. 27 with a vote of 17 for and 11 against.\u00a0<\/p>\n The Rogers and Weninger-sponsored bill focuses on investment authority for public funds to invest in crypto assets, while the Finchem-sponsored bill establishes a specialized fund for seized digital assets and appropriated funds.\u00a0<\/p>\n Related: <\/strong><\/em>Michigan becomes latest state to propose crypto reserve bill<\/strong><\/em><\/a><\/p>\n There are currently 18 US states that have crypto reserve bills pending Senate votes, while two \u2014 Arizona and Utah<\/a> \u2014\u00a0 are in the final stages of the approval process.<\/p>\n State crypto investment bills have been rejected in Montana, Wyoming, North Dakota, South Dakota and Pennsylvania.\u00a0<\/p>\n The status of crypto reserve-related bills. Source: <\/em>Bitcoin Reserve Monitor\u00a0<\/em><\/a><\/p>\n<\/figcaption><\/figure>\n Bitcoin reserve proposals are gaining support across the US thanks to President Donald Trump\u2019s pro-crypto policies.<\/p>\n Bitcoin, meanwhile, has tanked 17%<\/a> over the past seven days as it struggles to keep gains due to economic uncertainty over Trump\u2019s sweeping incoming tariffs.<\/p>\n