Arizona’s Crypto Circus: Will the Governor Join the Show?

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In a stunning turn of events that could only happen in Arizona, one of the state’s crypto reserve bills has waltzed its way through the House and is now just one vote away from a date with destiny—also known as the governor’s desk. 🎉

Arizona’s Strategic Digital Assets Reserve Bill (SB 1373) was given the green light on April 17 by the House Committee of the Whole, which sounds like a fancy name for a group of 60 House members who couldn’t agree on what to order for lunch. 🍕

Now, this bill aims to create a Digital Assets Strategic Reserve Fund, which is just a posh way of saying they want to stash away digital assets seized from criminals. Because nothing says “responsible governance” like managing stolen goods, right? 💰

Arizona’s treasurer will be allowed to invest up to 10% of this fund in digital assets each year. And if that doesn’t sound risky enough, they can also loan out the fund’s assets to boost returns—because who doesn’t love a little financial roulette? 🎲

But wait! There’s a plot twist! Governor Katie Hobbs, in a move that has all the drama of a soap opera, has vowed to veto all bills until the legislature coughs up some cash for disability funding. So, will she play ball with SB 1373, or will it end up in the veto graveyard? 🪦

Hobbs has a knack for vetoing bills—15 in just one week! It’s like she’s playing a game of “how many can I reject before lunch?” 🍽️

Arizona: The New Bitcoin Frontier

Meanwhile, SB 1373 is not alone in its legislative journey. It’s been cruising alongside the Arizona Strategic Bitcoin Reserve Act (SB 1025), which is all about Bitcoin (BTC). Because why not throw all your eggs in one digital basket? 🥚

This bill proposes that Arizona’s treasury and state retirement system can invest up to 10% of their funds into Bitcoin. It’s like saying, “Let’s gamble with our retirement savings!” What could possibly go wrong? 🤷‍♂️

Utah tried to get in on the Bitcoin action on March 7 but decided to scrap the main provision in the final reading. Talk about a last-minute change of heart! 💔

Meanwhile, Texas and New Hampshire are also in the Bitcoin reserve race, proving that when it comes to crypto, everyone wants a piece of the action. It’s like a high-stakes poker game, and everyone’s all in! 🃏

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2025-04-18 05:36