Arizona has taken an important step towards becoming a national leader in digital existence policy, as the Strategic Digital Heritage Reserve Reserve Reserve Law (SB 1373) passed through the Assembly Committee.
SB 1373 While cleaning the parliamentary committee, Arizona is moving in the crypto legislation race
The bill is now going to a third reading and a full vote before going to the table of Governor Katie Hobbs for the final approval.
SB 1373 proposes to create a strategic reserve fund managed by the state for digital assets by taking advantage of legislative allowances and crypto assets seized by law enforcement officers.
According to the bill, the state reservoir will have the authority to manage the fund using qualified storage solutions or products traded on the state -of -the -government stock exchange, and will also borrow digital assets to obtain additional returns.
The bill sets limits in exposure to investment by stating that more than 10 %of the fund cannot be allocated in a single financial year.
The bill defines “digital assets” Bitcoin, Stablecoin, Unchanged tokens (NFTs) and other block chain -based tools with economic or access rights.
SB 1373 is one of the two high -profile digital assets progressing in the legislative council. The other, the SB 1025 – April 1, the Arizona strategic Bitcoin reserve law, which passed through the Assembly, will allow the state to invest up to 10 %of the state funds into virtual currency assets.
According to Bitcoin Laws, Arizona Crypto reserve will leave behind states such as Texas and New Hampshire as it moves rapidly in the legislative arena. Governor Katie Hobbs promised to veto all the legislation until the deputies agreed on financing for disabled services and created uncertainty on the final approval of the bills.
Nevertheless, Arizona’s progress points to an increasing acceleration at the state level to integrate digital assets into public financing frameworks, as the US states are increasingly orientation to the block chain technology and crypto currencies as strategic economic tools.
*It is not an investment advice.
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Source: https://www.bitcoinsistemi.com/abdnin-arizona-eyaleti-dijital-varliklar-yasa-tasarisini-meclisten-gecirdi-iste-detaylar/
