Several states could have their own cryptocurrency reserves in place this year
Arizona’s push to establish a cryptocurrency reserve is moving forward as two key bills advanced past the House Rules Committee yesterday. The proposed legislation, if passed, would allow the state to manage digital asset reserves using both seized assets and public funds. The bills will now head to the House floor for a full vote.
🇺🇸 State Reserve Race Update:
Arizona's House Rules Committee passed both Bitcoin Reserve Bills (SB1373 and SB1025), ruling them "constitutional and in proper form."
The bills have now passed their assigned committees, meaning they should be headed for a full floor vote. pic.twitter.com/suuxXCifP3
— Bitcoin Laws (@Bitcoin_Laws) March 24, 2025
With Republicans holding a narrow 33-27 majority in Arizona’s House of Representatives, there is a reasonable chance both bills could pass. However, the final step may be more challenging, as Governor Katie Hobbs, a Democrat, has a track record of vetoing a significant percentage of bills.
The first bill, SB 1373, would create a state-managed reserve consisting of digital assets acquired through criminal proceedings. Arizona’s treasurer would oversee the reserve and be allowed to invest up to 10% of the fund’s total value each fiscal year. The bill also includes provisions allowing for asset lending to generate additional returns while maintaining financial stability.
The second bill, SB 1025, focuses specifically on Bitcoin. It would permit Arizona’s Treasury and state retirement system to invest up to 10% of available funds into Bitcoin. The proposal also includes an option for Arizona’s Bitcoin holdings to be stored securely in a federal Bitcoin reserve, should one be created in the future.
Arizona is not the only state looking to integrate cryptocurrency into its financial strategy. Texas has already passed a Senate bill to create a Bitcoin reserve, with further legislative steps still required. Meanwhile, Oklahoma’s House recently approved its own Bitcoin Reserve Bill, and Utah has also introduced related legislation, though it removed strategic reserve provisions.
With multiple states exploring similar measures, Arizona’s vote could set a precedent for how state governments approach cryptocurrency reserves moving forward.
