public monies; investment; virtual currency
Take action
Record your position on this measure.
Create an account to record your position, submit testimony, or contact your legislator.
Progress
Where this bill stands in the legislative process.
- Introduced
- Passed Senate
- Passed House
- To Governor
- Became Law
Overview
This bill 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. Secretary of the 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.
Key provisions
- Public funds can invest up to 10% of their money in virtual currency.
- Public funds can store virtual currency holdings within a strategic Bitcoin reserve.
- ‘Public fund’ is defined as the state treasurer or a retirement system.
- ‘Retirement system’ is defined as a retirement plan or system under title 38.
- ‘Virtual currency’ includes stablecoins, excluding legal tender.
- Stablecoins are defined as payment stablecoins meeting specific federal requirements.
Who is affected
- State Treasurer’s Office
- Arizona Retirement Systems
- Investors (potentially)
- Federal Government (through the Strategic Bitcoin Reserve)
Notable changes
- Introduces a specific allowance for public funds to invest in virtual currency.
- Establishes a mechanism for storing virtual currency within a federal strategic reserve.
Bill text
Read the latest version inline or switch to a previous version.
Text extraction is in progress. View the official source.
Sponsors
Official sponsors from legislative records.
1 on record
Primary sponsor
Arguments
Reasons offered for and against this legislation.
Arguments in favor
No arguments in favor have been submitted.
Submit yoursArguments opposed
No arguments opposed have been submitted.
Submit yours