Arizona Senate Panel Backs Crypto Reserve Bill That Lists XRP

Overview

• The Senate Finance Committee approved SB1649 in a 4–2 vote, sending it to the Senate Rules Committee for review.
• The proposed reserve, overseen by the state treasurer, would be funded with cryptocurrencies seized or forfeited in enforcement actions, with authority to invest or lend only under strict custody and risk limits.
• Eligible holdings named include Bitcoin, XRP and DigiByte, with permissive language that allows rather than requires any position.
• XRP traded near $1.39–$1.40 after the vote with a market value around $85 billion, indicating a muted market response.
• If enacted, Arizona could be the first U.S. state to formally reference XRP in a government reserve, though prior vetoes by Governor Katie Hobbs keep the bill’s prospects uncertain.