Senate Bill 1649 authorizes the state treasurer to hold, invest, or lend Bitcoin, XRP, and other digital assets obtained through seizures, marking a significant step toward crypto integration in public finance.
Arizona has advanced Senate Bill 1649, which proposes creating a state-level digital asset reserve fund composed of seized cryptocurrencies. The bill permits the Arizona state treasurer to hold, invest, or loan Bitcoin, XRP, and other digital-only assets carrying economic or ownership rights. This legislative move positions Arizona among the growing number of U.S. states exploring formal management of crypto assets within government financial structures, potentially setting a precedent for regulatory treatment and institutional crypto adoption at the state level.