Arizona Is About To Make American Financial History

Over the past few years, Americans have grown weary of the banking system. Between exorbitant fees, predatory loans, and a plethora of oversight, folks are looking for a new way to hold their investments.

Bitcoin and other cryptocurrency have taken the forefront as an alternative to the modern banking situation, and Arizona's about to make a move that may change that landscape forever.

Regulating Bitcoin

Earlier this year, Arizona began to push for cryptocurrency regulation, specifically with Bitcoin ATMs littered across the state. These ATMs were known to be extremely predatory, which detracted from the positives that convinced crypto users to switch in he first place.

This appeared to be step one in a plan to make Arizona a haven for Cryptocurrency. Over the past few months, more regulations have gone into place to make crypto more accessible and it seems that's all going to come together with Arizona's biggest financial jump ever.

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Arizona Endorses Cryptocurrency at State Level

Bitcoin Reserve

Recently, the Arizona House of Representatives have moved forward with a landmark project that would create a reserve for Bitcoin and other cryptocurrencies. Two bills, SB1025 and SB 1373, have made massive strides in making this a reality, setting the groundwork to legally allow something like this to happen.

State Governor Katie Hobbs is opposed to this, stating she will veto every attempt to create this reserve. That is, until Arizona secures a “serious, bipartisan funding solution that protects healthcare for Arizonans with disabilities.” Wouldn't you know it, that got passed on April 24th, so unless this was meant to be an impossible task that somehow got accomplished, we should begin to see the makings of America's first and only Bitcoin reserve in Arizona very soon.

[Coin Telegraph]