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The proposal of the Law on Reserve for Digital Property in Arizona goes to vote of the final home after cleaning the Committee of the whole.
On April 17, the State Process of the Arizona Law 1373, which is also referred to as the Process Law on Strategic Reserve for a Digital Property, has moved a step closer to the law after becoming a law approved to a full house in a preliminary examination.
SB 1373, also known as the draft of the Strategic Digital Property Act, proposes to create a fund made up of digital property seized in criminal proceedings.
The state treasurer would manage the fund and be authorized to invest up to 10% of its total value in digital assets per fiscal year. It also includes a provision that allows the cashier to borrow the fund’s share, provided that the action does not increase the Fund’s financial risk profile.
His current progress makes Arizona one of the leading countries in the race to establish a state reserves of digital assets, along with Texas and New Hampshire.
As Crypto.news reported earlier, SB 1373 cleared the Committee on House Rules on March 25, together with the SB 1025, a state spare proposal for Bitcoin.
While SB 1373 is widely covered by digital assets, the SB 1025 is focused solely on Bitcoin and allows Arizona’s treasury and the pension system to award up to 10% of the available funds in the BTC.
It also includes a provision to store Bitcoin on a separate federal reserve account. This bill passed the Committee of the whole on April 1 and still awaits the final vote.
However, both laws could hit a wall in the governor’s office. Arizona Governor Katie Hobbs threatened that Veto to all legislation will be adopted by the legislators a proposal for the Financing Act of Disability Services.
However, both laws could hit a wall in the governor’s office. Arizona Governor Katie Hobbs, Democrat, promised that Veto will adopt all legislation until the legislators adopt a $ 122 million in the Financing of State Disability Disability Disadvantages.
At April 17th publish On X, Hobbs criticized a proposal for financing legislation under the control of Republicans as “unconvincing and complete disappearance.”
This week has already put veto on 15 accounts and holds The highest rejection rate Any American governor of 2024, after blocking more than 20% of all legislation so far, most of the Republicans.
The wider crypto strategy of Arizona also includes a measure of February aimed at suppressing fraud with Bitcoin ATM. In February, the legislators presented the Bill 2387 House Bill 2387 for the implementation of measures such as daily transactions limit limits, licensing compulsory operator, and refund of the user protection policy from fraud.
