On March 24, the drafts approved by the Rules Committee of the Council of Arizona will now be presented to the general vote of the House of Representatives. If it becomes enacted, these regulations will allow Arizona to form strategic reserves supported by new public funds as well as digital assets obtained from criminal investigations.

In the House of Representatives of the Arizona, Republicans have 27 superiority of 33 to 27, which increases the likelihood of passing the drafts. However, there is a risk of vetoed by the democratic governor of the state Katie Hobbs.

Hobbs rejected 22 percent of the law bills submitted to him in 2024 and reached the highest veto ratio among the governors around the country.

The Strategic Digital Asset Reserve Draft (SB 1373), which is among the bills, foresees the use of digital assets seized within the scope of criminal investigations as a state reserve.

The reserve will be managed by the Arizona treasurer and will be allowed to direct the treasure to invest in the total value of the fund maximum 10 percent of the fund. However, it will also be possible to borrow the assets of the fund, provided that it does not increase financial risks.

The other draft Arizona Strategic Bitcoin Reserve Law (SB 1025) allows the Arizona Treasury and the state retirement system to invest up to 10 percent of the current funds to Bitcoin.

It also predicts that the state’s Bitcoin reserves will be stored in a safe and separate account at a federal Bitcoin reserve that can be installed in the future. Arizona’s move is one of the most ambitious attempts to create a digital asset reserve on a state basis.

In this area, not only Arizona, but also other US states are trying to implement similar arrangements. The Texas Senate approved the Strategic Bitcoin Reserve Draft (SB-21) with 5 votes on March 6.

However, in order for the bill to be enacted, he must pass through the House of Representatives and get the approval of the governor. Following this development, democratic representative Ron Reynolds presented a new bill to limit the state’s Bitcoin reserve size to $ 250 million.

Utah recently approved a law on Bitcoin, but the provisions of the initially planned strategic reserve were removed from the bill at the last moment. Similarly, the House of Oklahoma’s Representatives adopted the Bitcoin Reserve Law on 25 March with 15 votes to 77 and the bill was sent to the state Senate.

The adoption of law bills in Arizona will be an important development that has increased the interest of state governments’ interest in Bitcoin and digital asset reserves.

Legal arrangements can lead to more active roles in the digital asset management of the states and the diversification of state treasures with traditional financial assets as well as digital assets such as Bitcoin.

However, how the process in Arizona will result in, whether the bills will pass through the House of Representatives, and finally the Governor Hobbs will be based on the decision.