ChainCatcher News reports that the Arizona Senate has advanced Bill SB 1649, which proposes establishing a “Digital Asset Strategic Reserve Fund” managed by the state treasury. The bill authorizes the state treasurer to hold, invest, and lend seized, forfeited, or surrendered digital assets through qualified custodians or regulated exchanges.
The bill was approved by the Senate Finance Committee on February 16 with 4 votes in favor and 2 against, and received approval from the Senate Rules Committee. It will be submitted for a full Senate vote. The bill explicitly designates Bitcoin, XRP, DigiByte, stablecoins, and NFTs as qualified assets. It sets a 1% baseline threshold based on Bitcoin reaching $100,000 per coin and uses a “Cryptocurrency Fair Value Score” to evaluate other qualified digital assets. The bill emphasizes that these operations must not increase the state’s financial risk. SB 1649 must first be approved by the Senate, then submitted to the House, and finally signed by the governor.
Disclaimer: The information on this page may come from third parties and does not represent the views or opinions of Gate. The content displayed on this page is for reference only and does not constitute any financial, investment, or legal advice. Gate does not guarantee the accuracy or completeness of the information and shall not be liable for any losses arising from the use of this information. Virtual asset investments carry high risks and are subject to significant price volatility. You may lose all of your invested principal. Please fully understand the relevant risks and make prudent decisions based on your own financial situation and risk tolerance. For details, please refer to
Disclaimer.
Related Articles
Underlying asset structure, yield mechanics, and the 21Shares statement
21Shares CEO Duncan Moir said in a statement: “Since our founding, we have been focused on providing a convenient digital-asset investment pathway. With this product, we extend that expertise into equity-linked investment areas tied to the Bitcoin ecosystem.” Moir also said the product “combines high yield potential with a familiar exchange-traded structure,” targeting both institutional and retail investors.
SuperCryptoWahaha666662h ago
NAT Officially Launches on SpiderPool, Enabling BTC Dual-Mining in Same Block
NAT has launched on SpiderPool, enabling dual-mining with Bitcoin without extra setup. It generates 386 million NAT per block every 10 minutes, valued at $38, with a total market cap of $38 million. The code is open-source.
GateNews3h ago
BlackRock Withdraws 3,899 BTC Worth $289.88M from Major CEX
BlackRock withdrew 3,899 BTC worth $289.88 million and 839 ETH valued at $1.95 million from a major exchange, indicating a significant move of institutional assets off the platform.
GateNews5h ago
Beijing Professor Jiang Xueqin Claims Bitcoin May Be US Intelligence Project, Community Disputes Theory
Educator Jiang Xueqin claimed Bitcoin might be linked to U.S. intelligence agencies due to its anonymous creator and technical complexity. Critics countered that Bitcoin's decentralized and open-source nature prevents centralized control.
GateNews7h ago
Charles Schwab Launches Bitcoin and Ethereum Trading
Charles Schwab launched Bitcoin and Ethereum trading on its Schwab Crypto platform, starting with an employee pilot and expanding to a client waitlist by Q2 2026. The service targets 46 million brokerage accounts at a competitive 0.75% fee, positioning Schwab against existing crypto platforms.
CryptoFrontier7h ago
