In the grand theater of legislative affairs, our dear Arizona has taken center stage with a flourish, for two of its Bitcoin reserve bills have danced past the House Rules Committee. A strategic digital asset reserve, you say? Why, it’s as if the state is donning a new cloak of digital magnificence! 🎩
After a vote as thrilling as a joust on March 24, these bills pranced through the committee, now galloping towards the full House for a grand ball of voting.
Behold, the two proposals, SB 1373 and SB 1025, both vying for the title of “Best Dressed Bill” in the reserve of digital assets, yet each with its unique flair and funding fanfare.
SB 1373, the Strategic Digital Assets Reserve Bill, would allow our state treasurer to don the hat of a digital pirate, managing a fund of confiscated treasures. Up to 10% of the hoard may be invested each year, with the option to lend, as long as it doesn’t lead to a sinking ship.
SB 1025, the Arizona Strategic Bitcoin Reserve Act, is as specific as a lover’s sonnet to Bitcoin. It would permit our state’s coffers and retirement systems to pour 10% of their gold into the Bitcoin mine. And fear not, for the Bitcoin shall be stored in a federal reserve account, as secure as a dragon’s lair.
If these bills charm the full House, they shall make their way to Governor Katie Hobbs, whose signature is the final key to this treasure chest. 🗝️
Alas, a post from Bitcoin Laws on X whispers that these bills may waltz through the House, thanks to the Republican majority, yet may face a dragon at the governor’s desk. For Governor Hobbs is known to slay bills with a swift veto, having vanquished 22% in 2024!
As of March 25, it seems Arizona is leading the crypto race, with Oklahoma and Texas hot on its heels, as if in a grand chase across the digital plains.
In Texas, the Senate has approved SB-21, its Strategic Bitcoin Reserve Bill, in a vote as lopsided as a three-legged race. The bill now saunters to the state House, with the governor’s desk as its final frontier.
But lo! Just when you thought it was safe to invest, Democrat Representative Ron Reynolds introduces a proposal to cap the reserve, as if to say, “Let us not be too hasty in our Bitcoin hoarding, dear friends.”
Meanwhile, Oklahoma’s House passes its Bitcoin Reserve Bill (HB1203) with a vote so strong, one might think they were voting for free beer. The bill now heads to the Senate, where it shall be scrutinized with the finest of magnifying glasses.
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2025-03-25 09:47