Arizona SB1042 allows public funds to invest in virtual currency and store it in a strategic bitcoin reserve.
Arizona SB1042 amends the state's investment laws to allow public funds to invest up to 10% of their holdings in virtual currency. If the U.S. Treasury establishes a strategic bitcoin reserve, public funds can store their virtual currency in a segregated account within this reserve. The bill defines "virtual currency" as a digital representation of value that functions as a medium of exchange, a unit of account, and a store of value, excluding U.S. dollars or foreign currencies.
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