Two Arizona Bitcoin Reserve Bills Cleared at House Committee

Legislators in the Grand Canyon State have recently advanced two Arizona Bitcoin strategic reserve bills on March 24, 2025. Such a move makes Arizona the frontrunner for establishing government-held BTC reserves in the US.

Senate Bill 1373 (SB 1373) and Arizona Strategic Bitcoin Reserve Act (SB 1025) were approved by Arizona’s House Rules Committee. Both bills will now move onto the House of Representatives where lawmakers will cast their votes to pass.

What are the Proponents of the Two Arizona Bitcoin Reserve Bills?

SB 1373 proposes the establishment of a strategic digital assets reserve primarily funded by digital assets seized through criminal proceedings. The state treasurer would oversee the fund, investing no more than 10% of its total value each fiscal year. Additionally, the treasurer could authorize loans of these assets to boost returns, provided it does not raise overall financial risk.

Meanwhile, SB 1025 focuses on BTC investments. The bill authorizes the Arizona Treasury and the state’s retirement system to invest up to 10% of available funds in BTC. Moreover, SB 1025 makes provisions for storing Bitcoin holdings in a “secure, segregated account” within a federal reserve. However, this will take effect if such a facility is ever established.

Possible Hurdles for SB 1373 and SB 1025

While the two Arizona Bitcoin reserve bills have garnered support from legislators, Governor Katie Hobbs might be their biggest obstacle. Gov. Hobbs is notorious for vetoing a majority of legislation proposed by Republicans. Last 2024, Gov. Hobbs vetoed 22% of all bills, which was the highest rate during that time.

The Arizona House is predominantly Republican, with 33 members to 27 Democrats. With Gov. Hobbs’ knack for vetoing bills, it has been speculated that she might block the Arizona Bitcoin bills.

As it stands, Arizona’s SB 1373 and SB 1025 are leading the race for other states to have BTC reserves. In Oklahoma, their House of Representatives voted in favor of HB 1203, tying it at second place with Texas’ SB 21.

What Do the Potential Approval of the Two Arizona Bitcoin Bills Mean for Crypto Casinos?

The approval of the two Arizona Bitcoin reserve bills will affect bitcoin casinos in the US. For one, having a regulated crypto market gives players a safer environment where they can use their cryptocurrency.

States with Bitcoin reserves can attract investors to bolster states’ crypto economy and lead to rapid price appreciation. Such initiatives could also open the door for other cryptocurrency to be regulated within the US market.

Time will tell whether or not the US would truly become the “crypto capital of the world”.