Arizona has now become the second state in U.S. to pass the Bitcoin reserve bill, a landmark step that is seen as a precursor to an upcoming federal strategic BTC reserve.
House Bill 2749 was signed by Arizona Governor Katie Hobbs on Wednesday. This legislation lets Arizona take ownership of abandoned digital assets should the owner ignore messages sent within three years. This measure tracks New Hampshire Bill 302, which lets the state treasury make bitcoin investments.
The law also enables the creation of a Bitcoin and Digital Asset Reserve Fund, which will accumulate value from staking rewards and airdrops of these assets without using taxpayer funds.
Chairman Weninger, during the press release, said, “Digital assets aren’t the future—they’re the present. This law ensures Arizona doesn’t leave value sitting on the table and puts us in a position to lead the country in how we secure, manage, and ultimately benefit from abandoned digital currency.”
Founder of Bitcoin Laws Julian Fahrer remarked on X that Hobbs’s signature of HB 2749 gives more hope that she might also approve Senate Bill 1373, which she presently keeps on her desk.
SB 1373 would let Arizona’s treasurer, currently Kimberly Yee, allocate up to 10% of the budget stabilization fund into Bitcoin.
Following New Hampshire Governor Kelly Ayotte signing House Bill 302 into law, the measure’s passing in Arizona allows the state’s treasury to utilize funds to invest in cryptocurrencies with a market valuation of more than $500 billion.
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