Three states in the US—Arizona, Kentucky, and Oklahoma—are actively pursuing new legislation to bolster support for Bitcoin.
Within the last 24 hours, lawmakers in these states have introduced or passed measures aimed at safeguarding cryptocurrency rights, promoting Bitcoin investment, and establishing state-managed reserves.
Arizona’s Bitcoin Reserve Initiatives
Arizona is advancing two Bitcoin-centric bills that successfully passed through the House Rules Committee on March 24. Reports indicate that Senate Bill 1373 and Senate Bill 1025 are now set to be voted on by the full House.
SB 1373 aims to create a Strategic Digital Assets Reserve, which would include cryptocurrency seized during criminal investigations.
The state treasurer would oversee the fund and could invest up to 10% of its total value each year. Additionally, the bill permits the lending of these assets to create returns, provided that risks remain manageable.
Conversely, SB 1025 takes a more targeted approach, seeking to allow the Arizona Treasury and state retirement system to allocate up to 10% of their available funds into Bitcoin.
Given that Republicans hold the majority in the legislative chamber, the likelihood of both bills passing appears strong.
However, the final approval of these measures depends on Democratic Governor Katie Hobbs, who has a known tendency to veto Republican initiatives.
It has been noted that:
“Hobbs vetoed approximately 22% of all bills in 2024, the highest rate in the nation.”
Kentucky Strengthens Protection for Bitcoin Users
Meanwhile, Kentucky has made significant strides by enacting House Bill 701 into law.
On March 24, Governor Andy Beshear signed the bill, providing residents with robust legal protections while using or holding digital assets.
This law solidifies the right to self-custody Bitcoin, operate nodes, and utilize cryptocurrency without facing discrimination. It also restricts local governments from enacting laws that unfairly limit mining operations.
Moreover, the legislation clarifies that mining and staking do not fall under the definition of securities and are not subject to money transmitter licensing.
Both the House and Senate supported the bill unanimously, with votes of 91-0 and 37-0, respectively.
Oklahoma’s Bitcoin Investment Initiative
On March 24, it was reported that Oklahoma lawmakers passed House Bill 1203 with a vote of 77-15.
This bill would empower the state treasurer to invest public funds in Bitcoin and stablecoins that have a market capitalization of at least $500 billion. According to recent data, only Bitcoin meets this criterion, boasting a market cap close to $1.7 trillion.
HB 1203 will proceed to the Oklahoma Senate for further review following its approval.
Given the Republican leadership in both the Senate and the governor’s office, the bill has a strong likelihood of becoming law.
If enacted, Oklahoma would join a growing number of states in the US that are formally integrating Bitcoin into their public finance strategies.
