Arizona is edging closer to establishing one of the first state-backed crypto reserve funds in the United States. After the House Committee of the Whole approved SB 1373, also known as the Strategic Digital Assets Reserve Bill on April 17, the legislation now heads to Governor Katie Hobbs’ desk for approval. The bill proposes the creation of a Digital Assets Strategic Reserve Fund, which would use funds acquired through criminal seizures to purchase digital assets such as cryptocurrencies. These assets will be managed by Arizona’s state treasurer, who will be authorized to invest up to 10% of its holdings annually into digital assets like cryptocurrencies. The bill also allows the treasurer to take out loans against the fund’s assets to potentially increase returns within acceptable risk limits. `, 7