Crypto News

Arizona's Bitcoin Reserve Bill Arizona Governor Doug Ducey signed the "Cryptocurrency Payment Bill" on May 14th, making Arizona the first state in the US to approve a strategic Bitcoin reserve bill. This move allows the state's treasury to invest in Bitcoin and other cryptocurrencies as a hedge against inflation and a potential growth opportunity. The bill, also known as Senate Bill 1625, was first introduced in February of this year and was approved by the Arizona House of Representatives in April. It was then passed by the Senate with a 16-13 vote on May 11th, and finally signed into law by Governor Ducey on May 14th. The bill specifies that the state's treasurer, Kimberly Yee, can invest up to 10% of the state's assets in virtual currencies. It also requires regular reporting and risk assessments to ensure the safety and security of the investments. Impact of the Bill on Crypto Markets Arizona's Bitcoin reserve bill has spark...