TechFlow, April 29 — According to The Block citing Bloomberg Government, on Monday local time, the Arizona legislature passed the "Arizona Strategic Bitcoin Reserve Act," which has now been sent to the governor's office for signature.
The bill would allow the state treasury and retirement systems to invest up to 10% of their available funds in digital assets, particularly bitcoin. If signed by Democratic Governor Katie Hobbs, Arizona would become the first state to require public funds to invest in bitcoin. The bill was jointly introduced by Republican Senator Wendy Rogers and Representative Jeff Weninger.
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