$XRP Among Eligible Assets in Arizona Senate Bill

A significant development in Arizona's legislative efforts to incorporate digital assets into its public finance system has taken place with the passage of Senate Bill 1649 (SB1649) through the House Rules Committee. The bill, which aims to allow the state to hold cryptocurrencies as part of a strategic reserve, includes $XRP and Bitcoin among eligible assets.

Under the proposed legislation, the state treasurer would be authorized to invest reserve holdings to generate returns, while maintaining a defined threshold for evaluating an asset's economic and technical strength. The bill also specifies that any investment activity must avoid increasing the state's financial risk.