Arizona moved closer to establishing a bitcoin
Reserve fund after the State Senate voted for the Bill by its third reading.
Arizona’s Senate adopted House Bill 2324 (HB2324) in a 16-14 vote on Thursday and sent it back to House for a final decision.
The legislation updated Arizona’s laws of forfeiture, which allowed the state to have abandoned digital assets as unclaimed property. It also creates a “Bitcoin and digital assets reserve fund” to manage the lost assets.
It follows House Bill 2749 (HB2749), adopted in April, which changed unclaimed real estate frames to integrate digital assets.
The bill differs from the Senate’s Bill 1025 (SB1025), which proposed to use seized funds to invest in BTC. It passed the house 31-25 before he was vetoed by Governor Katie Hobbs, who referred to cryptocurrency as an “untested investment.”
The only state that has completed the legislative process for creating a BTC reserve is New Hampshire. Like Arizona, a bill in Texas is also in its last stages.
