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- Arizona approves bills to create a Bitcoin reserve and invest up to 10% of public assets.
- The initiative aims to attract blockchain innovation and lines up with the legislative efforts of other states.
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Arizona legislators approved two revolutionary bills today which could establish the State as the first in the country to create a bitcoin reserve.
The House of Representatives adopted the Senate bill 1025 and the Senate bill 1373, the two measures now awaiting the signing of Governor Katie Hobbs.
The legislation would allow Arizona to invest up to 10% of treasury and pension assets in digital assets, including Bitcoin, via SB 1025, while SB 1373 establishes a strategic digital asset reserve fund.
The bills authorize the use of entered cryptographic assets and future credits to build the reserve, incorporating chain audit and standard risk controls. The Arizona movement reflects similar legislative efforts in progress in Texas, Florida and New Hampshire.
Bitcoin exchanged nearly $ 95,000 after Arizona votes, marking an increase of 25% compared to the hollows at the beginning of April in the middle of renewed institutional demand.
Meanwhile, Governor Hobbs, who had previously threatened with veto to all legislation until the problems of financing the handicaps were resolved, raised the general threat following a bipartite agreement on April 24.
Governor Hobbs has not yet pointed out his position on Bitcoin reserve invoices, but a decision in the coming days could either cement the advance of Arizona in the adoption of Bitcoin or force a replacement attempt.
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