SB 1042
public monies; investment; virtual currency
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- Passed Senate
- Passed House
- To Governor
- Became Law
Bill overview
Senate Bill 1042 allows Arizona public funds, such as the state treasurer's office and retirement systems, to invest up to 10% of their money in virtual currency. If the U.S. Treasury creates a strategic Bitcoin reserve, these public funds can store their virtual currency holdings within that reserve in a separate, protected account. The bill defines key terms like ‘public fund,’ ‘retirement system,’ and ‘virtual currency,’ specifically including stablecoins, while excluding traditional legal tender. This legislation aims to explore investment opportunities in digital assets while prioritizing security and compliance.
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