This bill proposes to amend the Arizona Revised Statutes by adding a new section that establishes a digital assets strategic reserve fund, which will consist of appropriated funds and seized or surrendered digital assets. The state treasurer will be responsible for administering this fund, which includes provisions for investing the total amount deposited in any fiscal year and the ability to loan digital assets to generate additional returns, provided that such loans do not increase financial risks to the state.

Additionally, the bill introduces definitions for various terms related to digital assets, including "cryptocurrency fair value," "cryptographic private key," and "digital asset," among others. It outlines specific criteria for secure custody solutions and qualified custodians, ensuring that digital assets are managed securely. The legislation also emphasizes the importance of a digital gold standard benchmark for evaluating cryptocurrency performance, aiming to promote transparency and fairness in the digital asset marketplace.

Statutes affected:
Introduced Version: 41-181