💰Arizona’s Crypto Quest: Senate Says “Yes”💰

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In the shadow of Utah’s bold crypto dreams, Arizona’s Senate has taken a step forward, advancing a bill that would turn digital coins into state treasure. 🏦

With a resounding vote of 17 to 12, SB 1373, the Strategic Digital Assets Reserve bill, passed its third reading on the 27th of February. It now heads to the House, where it will either find its destiny or face its doom. 🚶‍♂️🚶‍♀️

Republican Senator Mark Finchem, the bill’s sponsor, envisions a “Digital Assets Strategic Reserve Fund,” a pot of gold at the end of the legislative rainbow, filled with appropriations and seized crypto. 🏮

The treasurer, a careful guardian of the fund, is forbidden from investing more than 10% of the deposits in any fiscal year. Yet, they may loan digital assets from the fund, if it doesn’t upset the financial applecart. 🍏🚜

“Whether you like it or not, legislation will happen at the federal level in this order: Stablecoins, Market Structure, and Strategic Bitcoin Reserve,” declared Dennis Porter, founder of the Satoshi Action Fund, in a prophetic X post on the 28th. 📜

Meanwhile, another Bitcoin reserve bill, SB 1025, co-sponsored by Republican Senator Wendy Rogers and Representative Jeff Weninger, is also navigating the Senate’s corridors. It passed its third reading with a vote of 17 for and 11 against. 🏛️

This bill, unlike its sibling, focuses on the investment authority for public funds to dive into the crypto pool, while the other establishes a specialized fund for seized digital assets and appropriated funds. 🏊‍♂️🏊‍♀️

Eighteen states have crypto reserve bills pending Senate votes, but Arizona and Utah are leading the race to the finish line. 🏁

Montana, Wyoming, North Dakota, South Dakota, and Pennsylvania have already seen their crypto dreams crushed under the weight of legislative skepticism. 💔

Bitcoin reserve proposals are blooming across the US, thanks in part to President Donald Trump’s crypto-friendly policies. 🌸

Ironically, Bitcoin itself has taken a 17% dive over the past seven days, struggling to stay afloat amidst the economic uncertainty caused by Trump’s incoming tariffs. 📉🌊

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2025-02-28 08:35