The Senate in Arizona is reviving a bitcoin reserve bill
A Bitcoin Reserve Bill in Arizona was re -revived after the Senate approved the state in order to review the draft law on Thursday.
The House of Representatives Law 2324 was initially voted in the House of Representatives during its third reading on May 7, but it is now returning to the Chamber to review after the Senate voice 16-14 in favor of measure.
The draft law will allow the state to create a “digital assets and digital assets” to manage the Digital Assets. It is one of the many encrypted bills that legislators have reviewed in the state in recent months.
The Senate’s vote on the draft law supported by Republicans is almost completely similar to the party, with Republican Jake Hoffman, the only member of his party to vote against the bill.
Only the legislator who was originally voted against the bill can submit an application for reconsideration – in this case, Republican Senator Jane Chamb.
HB 2324 must receive the majority vote from 60 members of the Arizona Council – 33 of whom are Republicans – until it is sent to the office of the Governor Katie Hobbes for approval.
Bitcoin’s reserve bill between departments
If HB 2324 is passed, the first digital assets worth $ 300,000 in criminal confiscation will go to the Public Prosecutor’s Office.
Next, any more than that amount will be divided by 50 % with the public prosecutor, 25 % for the General State Fund and 25 % for the new digital asset reserve fund, the bill. States.
The draft law, sponsored by Republican Senator Jeff Winnger, will expand the laws of Arizona to include digital assets, and the creation of provisions in its favor, storage and allocation.
Arizona will be able to seize the digital assets of the individuals who have died, deportation, and flee, and they have been granted immunity or abandoned property, provided that the state proves that there is no known owner, and that the tireless efforts were made to determine one and that no one has demanded legal ownership.
The governor of Arizona signed the Bitcoin Bill
The Governor Hobbes signed HB 2749 in the law on May 7, which allows the state to retain the non -demanded encryption and create a Bitcoin (BTC) reserve fund that will not use any taxpayer or state money.
The guardianship of the state can participate in gaining bonuses or receiving air, which can then be deposited in what Arizona called “Bitcoin Fund and Digital Assets”.
Hobbs Vetoes two encryption bills
Another Bitcoin Bituin Bill has reached the Hobbs office was the Senate Law 1025, which suggested the establishment of the strategic Bitcoin reserve law in Arizona (2025) and the Fund Secretary of the Fund could be allowed to invest up to 10 % in Bitcoin and possibly other encryption assets.
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However, Hobbs made the draft law on May 2, pointing to fears that retirement funds were not exposed to “unspecified investments such as virtual currency.”
Hobbes also tried the SB 1373 on May 12, which aims to create the “Strategic Reserve Fund for digital assets”.
“The current fluctuations in the encrypted currency markets do not make a wise occasion for public funds dollars,” Hobbes stated in its veto. “I have already made legislation in this session that allows the state to benefit from the cryptocurrency without endangering the dollar of public funds.”
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