The Arizona State Senate Finance Committee passed SB 1649 on February 16, 2026, with a 4-2-1 vote. The Senate Rules Committee approved it on February 23, and the bill is now awaiting a full Senate vote. The bill authorizes the State Treasurer to hold, invest, and lend digital assets seized, confiscated, or surrendered through qualified custodians or exchanges approved by the SEC, CFTC, or the Department of Insurance and Financial Institutions of the state, establishing a "Digital Asset Strategic Reserve Fund." Qualified digital assets include Bitcoin, Digibyte, XRP, stablecoins, and NFTs, which must meet a "Cryptocurrency Fair Value Score" of at least 1% of the "Digital Gold Standard Benchmark" (set when Bitcoin reaches $100,000). (Decrypt)