Arizona has been at the forefront of a movement among U.S. states to integrate Bitcoin and digital assets into its financial framework. Two key bills have been in focus: Senate Bill 1373 (SB 1373) and the Arizona Strategic Bitcoin Reserve Act (SB 1025). As of today’s date, March 25, 2025, both bills have made significant strides through the legislative process.
Current Status
- House Rules Committee Approval: On March 24, 2025, both SB 1373 and SB 1025 cleared the Arizona House Rules Committee. This milestone means they are now headed to the floor of the Arizona House of Representatives for a full vote. This aligns with your statement that the bill is “just 1 vote away from approval,” referring to the final House vote needed before it moves to the Governor’s desk.
- Next Step: If the House approves these bills with a majority vote, they will go to Governor Katie Hobbs for her signature or veto. Given the Republican majority in the Arizona House (33 Republicans to 27 Democrats), there’s a reasonable chance of passage, though the Governor’s stance could be a hurdle (more on that below).
Details of the Bills
- SB 1373 (Strategic Digital Assets Reserve Bill): This bill proposes creating a strategic digital assets reserve, primarily funded by digital assets (including Bitcoin) seized through criminal proceedings. It allows the state treasurer to invest up to 10% of the fund’s value annually, with provisions for lending assets to boost returns, as long as it doesn’t increase financial risk.
- SB 1025 (Arizona Strategic Bitcoin Reserve Act): This bill specifically targets Bitcoin, permitting the state treasury and retirement system to invest up to 10% of available public funds into Bitcoin. It also includes a provision to store Bitcoin in a secure, segregated federal reserve account if one is established by the U.S. Treasury.
Arizona as the First State?
If either bill is signed into law, Arizona could indeed become the first U.S. state to officially buy and hold Bitcoin as part of a strategic reserve. While other states like Texas and Oklahoma are also advancing similar legislation (e.g., Texas’ SB 21 passed the Senate on March 6, and Oklahoma’s HB 1203 passed the House on March 24), Arizona’s bills are currently the furthest along in the legislative pipeline as of March 25, 2025. The state’s proactive stance has positioned it as a leader in this “state reserve race.”
