Arizona Governor Katie Hobbs has signed a law bill that allows the US state to retain unspecified crypto and establish a “bitcoin reserve fund” that will not use any taxpayer or state funding money.
Hobbs signed House Bill 2749 in law on May 7, which Provides -Daan Arizona to claim the owner of abandoned digital assets if the owner has not responded to communications for three years.
State carers can bet in crypto to earn rewards or receive airdropsThat could be deposited by what Arizona called a bitcoin and digital asset reserve fund.
“This law ensures Arizona does not leave the amount sitting at the table and puts us in a position to rule the country how we can secure, manage, and eventually benefit from abandoned digital currency,” the sponsor of the bill, Jeff Weninger, Says In a statement of May 7.
“We have built a structure that protects the rights of ownership, respected the ownership, and provides state tools to account for a new economic value category,” Weninger added.
On May 3, Hobbs has been a similar bitcoin (Btc) Reserve Bill, Senate Bill 1025, which will allow the State to invest in the seized funds in Bitcoin, citing concerns for using public funds for “not such possessions.”
Moving hobbs gives hope for future crypto bills
Bitcoin Laws founder Julian Driver Says To X that HBBs’ HBBS signing 2749 offers more hope that he can also Sign Senate Bill 1373which is currently on his desk.
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SB 1373 allows Arizona’s treasurer, which is currently Kimberly Yee, which provides up to 10% of the Arizona budget stabilization fund in Bitcoin.
Arizona’s bill passage follows New Hampshire Governor Kelly Ayotte on May 6 to sign House Bill 302 In Lawallowing his state’s treasury to use funds to invest in cryptocurrencies with a market capitalization of more than $ 500 billion.
Bitcoin is currently a single cryptocurrency meets that threshold.
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