One of Arizona’s Bitcoin Reserve bills has resurrected after the State Senate passed a movement to re -consider the bill on Thursday.
House Bill 2324 first voted at home in its third reading on May 7, but now returned to the room for re -considered after the Senate Vote 16-14 in favor of the proposal.
The bill allows the state to create a “bitcoin and digital assets reserve fund” to manage deleted digital assets. It has been one of the many crypto bills reviewed by state lawmakers in recent months.
Voting the Senate’s reconsideration for the Republican-supported bill is almost completely with the party lines, with Republican Jake Hoffman, the only member of his party to vote against the bill.
Only a lawmaker who originally voted against the bill could file a motion to re -consider -in this case, it was Republican Senator Jane Shamp.
HB 2324 should receive a majority vote from 60 members of the Arizona House – 33 of which are Republicans – to send it to the Governor Katie Hobbs’s desk for approval.
Bill to divide Bitcoin Reserve funds between departments
If HB 2324 passes, the first $ 300,000 worth of digital assets to a forfeiture criminal will go to the Attorney General’s office.
Then, any surface value that will divide 50% into general attorney, 25% in the general state fund and 25% in the new digital assets reserve fund, the bill state.
The bill, which is sponsored by Republican Senator Jeff Weninger, will also expand Arizona’s Forfeiture laws to include digital assets, establishing provisions for their seizure, storage and provision.
Arizona can occupy digital ownership from individuals who have died, deported, fleeing, given immunity or abandoned, provided that the state can prove that no one is known to exist, that enthusiastic effort has been made to identify one and that no one has echoed legal.
The Governor of Arizona signed a Bitcoin Bill
Governor Hobbs signed HB 2749 in law On May 7, allowing the state to retain unspecified crypto and establish a bitcoin (Btc) reserve fund that will not be used taxpayer or state funds.
State carers can bet in crypto to earn rewards or receive airdropsThat can be deposited in the so -called Arizona that is a “bitcoin and digital assets reserve fund.”
The hobbs have touted two crypto bills
Another Bitcoin Reserve bill that reached the Hobbs desk was Senate Bill 1025, who suggested the creation of the Arizona Strategic Bitcoin Reserve Act (2025) and allowed the state manager’s state to invest up to 10% in Bitcoin and potential other crypto assets.
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However, Hobbs has been considering a bill On May 2, citing concerns that retirement funds should not be exposed to “not such investment such as virtual currency.”
Hobbs also tested SB 1373 on May 12, which aims to create the “Digital Assets Strategic Reserve Fund.”
“The current volatility in the cryptocurrency markets does not make a neat fit for the general dollar of funds,” Hobbs said in his letter to the veto. “I have already signed a law in this session that allows the state to use cryptocurrency without putting the risk to the general fund.”
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