Arizona took another big step towards adopting bitcoin. The state legislative council has officially approved two projects that would see Arizona Bitcoin as part of the treasury reserves.
In a vote 31-25, Senate Bill (SB) 1025Sponsored by Senator Windy Rodgers, bitter Besides SB 1373Sponsored by Senator Mark Vinchim, in a 37-19 vote. Both projects seek to create a strategic reserve for Bitcoin for the State of Arizona.
The decision directs the state to study potential effects and logistical services to add BTC to its financial property, which would make Arizona the first country to officially add Bitcoin as the origin of the Treasury Department.
Helping to lead the idea is Republican Senator Wendy Rogers, which was a steady voice to adopt the state levels. According to As for CNBC, Rogers rejected concerns about instability and expressed her belief in the long -term value of Bitcoin, saying: “I have no concerns about bitcoin fluctuations just to reduce all plans, it always increases the value.”
She also stated, Bitcoin described as “hedging against inflation”, which reflects the increasing popularity of politicians about the important role of Bitcoin in the difficult economic environment today, and a statement supported by other Republicans such as Donald Trump Junior.
This is not the first time that Rogers has proposed a bitcoin friendly legislation. In 2022, it was presented SB 1341Which could have allowed Bitcoin to use a legal tender in Arizona. Unfortunately, this has not been presented for the vote. In 2023, it was presented SB 1239Who would have allowed the government of Arizona to accept bitcoin as a payment of municipal payments from citizens. The draft law approved this Senate with a 16-13 vote, but it failed in the Roads and A means of the House of Representatives with a vote 4-5, which stopped its progress. Its legislative history It shows a steady effort to make Arizona state a supportive state of encryption. With inflation still is a great concern, its last effort may be to drop at the right moment.
While the result of this is not allowed after the purchase of Bitcoin, it lays the foundation that occurs in the near future. If you fall on the ruler’s law, Arizona will become the first American state to formally place Bitcoin in her treasury, and may have led to a wave of similar moves throughout the country.
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