One of Arizona’s crypto reserve bills is one successful vote away from heading to the governor’s desk for final approval after it passed by the House.

The state’s Strategic Digital Assets Reserve Bill (SB1373) was approved by the House Committee of the Whole on April 17. There will now be a third reading of the bill before a final floor vote.

Arizona Governor Might Set The Senate-Approved Crypto Reserve Bill Back

SB1373 seeks to create a fund made up of digital assets that were seized through criminal proceedings. 

ARIZONA Update:

Bitcoin Reserve Bill SB 1373 has been passed by the House Committee of the Whole (with a minor amendment).

The next step is Third Reading and final floor vote. pic.twitter.com/oOahjbZATR

— Bitcoin Laws (@Bitcoin_Laws) April 17, 2025

Arizona’s treasurer would then be permitted to invest up to 10% of the fund’s total assets in any fiscal year. The state’s treasurer would also be able to loan the fund’s assets out to generate more returns, provided the loans do not come with increased risk.

While the bill may have received Senate approval, Arizona Governor Katie Hobbs recently pledged to veto all bills until the legislature passes a bill for disability funding. This could mean that Hobbs, who has already vetoed 15 bills sent to her desk this week alone, might veto SB1372.

Arizona Bitcoin-Only Bill Also Awaits Full Floor Vote

Alongside SB1373 is Arizona’s Strategic Bitcoin Reserve Act (SB1025), which only includes BTC and has already passed through the state’s legislature.

SB1025 proposes Arizona’s treasury and state retirement system be permitted to invest up to 10% of available funds into Bitcoin. Similar to SB1373, SB1025 is now awaiting a full floor vote after passing through Arizona’s House Committee of the Whole on April 1.

Other US states are also in the race to establish a Bitcoin reserve. Utah passed Bitcoin legislation on March 7. However, the provision was scrapped in the final reading. 

Meanwhile, the Texas Senate passed a Bitcoin reserve bill on March 6. A similar bill was recently passed through New Hampshire’s House as well.

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