Arizona Senate Panel Votes 4-2 to Advance XRP Reserve Bill
Arizona Senate Finance Committee passed SB1649 with a 4–2 vote, advancing a bill that would let the state treasurer hold XRP and other seized digital assets. XRP traded at $1.46 as the bill moved forward, up 6.7% for the week.
Arizona Senate Finance Committee passed SB1649 with a 4–2 vote on February 16, advancing a bill that would allow the state to establish a public cryptocurrency reserve explicitly naming XRP.
The bill would let the Arizona state treasurer hold, custody, and invest digital assets through modern custody options and regulated exchange-traded vehicles. Assets eligible for the reserve include XRP, coins seized during law enforcement actions, and cryptocurrency surrendered to the state. The treasurer would use regulated custody mechanisms to safeguard the holdings.
XRP traded at $1.46 at the time of the committee vote, up 0.7% for the day and 6.7% for the week.
Arizona has built up blockchain-friendly policies since 2017, when Governor Doug Ducey signed legislation affirming legal enforceability of blockchain-secured records and smart contracts. The state appropriated ₱144.84 million ($2.5 million) to blockchain research centers in 2019. Governor Katie Hobbs signed HB 2749 in May 2025, creating the Bitcoin and Digital Assets Reserve Fund from unclaimed cryptocurrency held for three years, making Arizona the second state with such a reserve.
Coinbase Head of State Policy Ashley Gunn called Arizona a national trailblazer on digital asset policy after the 2025 legislation passed. The state requires major exchanges including Coinbase, Binance, and Gemini to register as money transmitters under existing statutes that also framework securities laws for virtual coin offerings. SB1649 now heads to the full Arizona Senate after clearing the Finance Committee on February 16.
This article was written based on reporting from NewsBTC.
