Arizona's Senate Bill 1373, known as the Digital Assets Strategic Reserve, has passed the House Committee of the Whole and is now awaiting a final floor vote. If approved, it would establish the first state-level Bitcoin reserve in the U.S., funded by legislative appropriations and seized digital assets.

The bill, SB 1373, allows the state Treasurer to lend assets from the reserve to generate returns. However, Governor Katie Hobbs has indicated she will veto any bills not already on her desk until a bipartisan agreement on funding for Arizonans with disabilities is reached.

To continue reading this as well as other DeFi and Web3 news, visit us at thedefiant.io