Arizona is one step closer to creating the first-ever state Bitcoin reserve, but it will only be completed if Gov. Katie Hobbs (D-AZ) gives final approval.

The Republican-led state House and Senate passed a pair of bills, Senate Bill 1025 and Senate Bill 1373, which would create a Bitcoin reserve, similar to President Donald Trump‘s initiative at the federal level. The legislation would allow the state to invest up to 10% of its public funds in “virtual currency holdings” such as Bitcoin.

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