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An event took place in Arizona, one of the US states, which can serve as an example for other regions thinking about how to integrate cryptocurrencies into public finances. The finance committee of the local Senate has approved a bill that will create an official state reserve based on digital assets.

The bill was initiated by Republican Mark Finchem. He suggests including Bitcoin, XRP, and DigiByte in the reserve. It seems that the choice of these cryptocurrencies was made in order to cover both the largest asset by market capitalization and altcoins with varying levels of popularity and technical equipment. Now the document has been sent to the rules committee, after which the necessary procedures will take place: a vote by the entire Senate, then consideration by the House of Representatives, and finally signing by the governor. Only then will the bill become law.

The author emphasizes that there are no plans to directly use budget funds to purchase cryptocurrencies, as well as the introduction of new taxes. The reserve will be formed at the expense of digital assets confiscated in the course of criminal cases, legally transferred to the state, as well as acquired with funds specially allocated by lawmakers.

The bill gives the treasurer significant powers: he will be able not only to store assets, but also to invest them, as well as lend them out to generate additional income. However, there is an important condition — such operations should not create risks for the budget.

Although the bill has a long way to go, and there is no guarantee that it will not undergo significant changes, the very promotion of such an initiative shows how the attitude of American politicians towards the crypto industry is changing.