Arizona moved near the establishment of a bitcoin
Reserve fund after the state’s Senate voted in favor of its third reading bill.
The Arizona Senate passed House Bill 2324 (HB2324) In a vote of 16-14 on Thursday, it will be returned home for a final decision.
The law will update Arizona laws on Forfeiture, which allows the state to hold abandoned digital assets as unimaginable property. It also creates a “Bitcoin and Digital Assets Reserve Fund” to manage deleted property.
It follows House Bill 2749 (HB2749).
The bill is different from SENATE BILL 1025 (SB1025)proposed using the seized funds to invest in BTC. Who passed home 31-25 before being vetoed by governor Katie Hobbs, who defined in cryptocurrency as an “unsted investment.”
The single state that completed the legislative process for Creating a BTC reserve is the New Hampshire. Like Arizona, a bill in Texas is in its late stages too.
