Arizona House Committee Greenlights Bitcoin Reserve Bill

• The Arizona House of Representatives’ Commerce Committee has approved the BTC Strategic Reserve Bill.
• The Bill includes policies to limit investment exposure while establishing a fund managed by the state treasurer. 
• Bitcoin faces resistance at the 20-day EMA and needs to reclaim the $85K price level before moving higher.

The Arizona House of Representatives’ Commerce Committee has approved the Bitcoin Reserve Bill SB1373 with a narrow vote of 6-to-4, resulting in a modest 1.36% price increase in the past 24 hours, CoinMarketCap data shows.

This vote marks a significant step forward in Arizona’s efforts to integrate cryptocurrency into its financial framework, in line with the State’s growing interest in the management of digital assets.

Related: Bitcoin’s Getting New Big Players: Fresh Whales Amassing Millions

Bitcoin Reserve Bill Progresses Through Arizona Legislature

The bill, initially introduced in the Senate, has moved through the legislative process relativ…

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