Arizona came to establish a bitcoin
Reserve fund after the State Senate voted in favor of the bill in its third reading.
Arizona’s Senate approved bill 2324 (HB2324) in a 16-14 vote on Thursday, sending it back to the Chamber for a final decision.
The legislation would update Arizona’s laws on confiscation, which allows the State to have abandoned digital assets as unlaushed property. It also creates a “Digital Assets and Bitcoin Reserve Fund” to administer lost assets.
Follow the draft 2749 (HB2749), promulgated in April, which modified the unlapped property frameworks to integrate digital assets.
The bill is different from bill 1025 of the Senate (SB1025), which proposed to use funds seized to invest in BTC. That approved the 31-25 camera before being vetoed by Governor Katie Hobbs, who referred to cryptocurrency as an “unseeded investment.”
The only state that has completed the legislative process to create a BTC reserve is New Hampshire. Like Arizona, a bill in Texas is also in its final stages.
