Arizona Enacts New Law to Secure Unclaimed Digital Assets and Establish Bitcoin Reserve Fund
By: bitcoin schweiz news|2025/05/12 02:15:06
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Arizona has passed a new law to establish a Bitcoin and Digital Asset Reserve Fund aimed at securing unclaimed digital assets such as Bitcoin in their original form, following Governor Katie Hobbs’ earlier rejection of a broader crypto investment proposal. The newly adopted law, HB2749 , allows the state to take custody of digital assets deemed „abandoned“ after three years of unsuccessful contact with their owners. These assets will now be transferred to the reserve fund, ensuring they are preserved and not liquidated or converted. This move comes shortly after New Hampshire enacted similar legislation permitting the state to purchase Bitcoin or other major cryptocurrencies for public use . However, Arizona’s approach remains more cautious. Governor Hobbs had previously vetoed Senate Bill 1025 , which would have allowed state agencies to invest up to 10% of their funds in cryptocurrencies, calling such investments “untested.” HB2749, in contrast, involves no speculative investment—only the safekeeping of assets already in the state’s possession. “This law ensures Arizona doesn’t leave value on the table, said Representative Jeff Weninger, Republican and chairman of the House Commerce Committee. “Digital assets aren’t the future—they are the present.” Arizona now joins a growing list of U.S. states recognizing the importance of blockchain-based assets in public financial management while taking a measured, regulatory approach to their integration. Sources: Arizona Update: HB 2749 has been signed into law, technically creating AZ’s first crypto reserve. It doesn’t allow investment, but moves unclaimed assets, airdrops, and staking rewards into a reserve. IMPORTANT: Shows Gov. Hobbs is willing to enact pro-crypto legislation pic.twitter.com/BeTRdD8GlD — Bitcoin Laws (@Bitcoin_Laws) May 8, 2025
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