The Arizona Senate Finance Committee has approved SB 1649, a bill that would allow the state treasury to manage digital assets through qualified custodians or approved exchange-traded products. Passed on February 16 with a 4-2-1 vote, the bill has also cleared the Senate Rules Committee as of February 23 and now awaits a full Senate vote. SB 1649 proposes the creation of a "Digital Asset Strategic Reserve Fund" to hold, invest, and lend seized, forfeited, or surrendered digital assets. Eligible 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.