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The Arizona House of Representatives passed the digital asset reserve fund bill.
According to Gate.io News bot, Wu Shuo reported that the Arizona House committee passed the "SB 1373" bill on Thursday. The bill will establish a strategic digital asset reserve fund, with funding sources including government allocations and seized encryption assets.
According to the provisions of the bill, the treasury officer has the authority to hold and lend digital assets through compliant channels to generate returns, with an annual investment limit not exceeding 10% of the total fund. The scope of the bill includes blockchain assets such as Bitcoin, stablecoins, and NFTs.
The bill has now been submitted to the governor's office and will take effect officially after the governor signs it.