Arizona Legislature Passes Two Cryptocurrency Reserve Bills Amid National Trend
The Arizona House of Representatives has approved two bills that would allow the state to establish a cryptocurrency reserve. On April 28, lawmakers passed Senate Bill 1025 (SB1025) with 31 votes in favor and 25 against. This bill aims to amend Arizona statutes to create a strategic Bitcoin reserve.
A second proposal, Senate Bill 1373 (SB1373), also passed with stronger support of 37 to 19. This legislation would establish a broader state-level digital assets reserve. The bills represent the furthest any state has progressed toward creating an official cryptocurrency reserve.
State Representative Jeff Weninger noted during discussions that approximately 15 other states are considering similar legislation. SB1025 would permit the state treasurer to invest up to 10% of funds into cryptocurrencies, primarily Bitcoin.
The bills' progression follows New Hampshire's actions, where similar legislation passed the state House in April. That bill is expected to move to the New Hampshire Senate for a full vote soon.
Arizona Governor Katie Hobbs previously stated she would veto any bills until lawmakers passed a "serious, bipartisan funding solution that protects healthcare for Arizonans with disabilities." With such legislation approved on April 24, Hobbs may now be more receptive to signing the cryptocurrency bills.
These state efforts parallel federal initiatives to create Bitcoin reserves. In March, President Donald Trump signed an executive order proposing a "Strategic Bitcoin Reserve" and a "Digital Asset Stockpile."
Wyoming Senator Cynthia Lummis has proposed federal legislation that would enable the U.S. government to hold over 1 million BTC. Her plan includes acquiring cryptocurrency through civil or criminal forfeiture. Some view Lummis's bill as an attempt to transform Trump's executive order into permanent law.
El Salvador continues its Bitcoin acquisition strategy, purchasing 7 Bitcoin worth over $650,000 in late April 2025. The country maintains compliance with IMF loan requirements through what experts call a "flexible interpretation" of their agreement, possibly acquiring assets through non-governmental entities while technically adhering to the $1.4 billion loan terms.
