Lawmakers in Arizona have moved closer to creating an official crypto reserve that could include Bitcoin and XRP. The proposal would allow the state to hold and manage digital assets through a new government fund.
The plan comes under Senate Bill 1649. It would create a Digital Assets Strategic Reserve Fund managed by the State Treasurer. The fund would store crypto assets seized through criminal or civil cases instead of using taxpayer money.
The bill has already cleared two important steps. It passed the Senate Finance Committee in a 4–2 vote. It also received approval from the Senate Rules Committee. This means it can now move toward a full Senate vote.
The reserve could include major cryptocurrencies like Bitcoin, XRP, and DigiByte. It could also include other digital assets like stablecoins and NFTs if they meet certain value requirements.
This move is important because it shows growing government interest in crypto. If approved, it would be one of the first times a U.S. state formally allows assets like XRP to be held in an official reserve.
The law would not force Arizona to buy crypto right away. Instead, it creates a legal system so the state can hold, invest, or even lend crypto assets in the future if needed.
However, the bill still faces challenges. It must pass both chambers of the state legislature. It also needs approval from Governor Katie Hobbs, who has previously warned about crypto risks.
If approved, Arizona could become one of the first U.S. states to officially hold cryptocurrencies. This would mark a major step toward wider government adoption of digital assets.
