Online reports that Arizona's Strategic Digital Asset Reserve Act ("SB 1373") was passed by the House committee on Thursday. Currently, the bill still needs a third reading and a full vote before being sent to the governor for final approval. SB 1373 proposes the establishment of a digital asset strategic reserve fund, which will consist of crypto assets appropriated by the Legislature and seized by the authorities. The bill states that state treasury secretaries will be allowed to deposit seized cryptocurrency into the fund through qualified custody solutions or state-registered exchange-traded products, and that the treasury secretary can lend digital assets from the fund for additional returns. "The amount invested by the state treasurer in any fiscal year shall not exceed 10 percent of the fund's total deposits," the bill said.