- Arizona legislature approves Bitcoin reserve bill HB2324.
- Governor Hobbs has yet to sign the bill into law.
- The reserve will hold seized digital assets, primarily Bitcoin.
HB2324’s passage signals significant engagement in crypto asset custody, affecting future digital asset management by Arizona and potentially influencing other states.
Arizona‘s HB2324 allows the state to establish a reserve for digital assets from criminal forfeitures, setting a precedent for managing seized cryptocurrency. The Arizona House Bill HB2324 Text Document provides a detailed outline of the legislative measures involved.
Key players include Senator Jane Shamp and Governor Hobbs, with Shamp reviving the bill after initial opposition.
The passing of HB2324 does not allocate new funds but focuses on seized assets, primarily Bitcoin, with the potential inclusion of others such as altcoins.
If Governor Hobbs signs, Arizona will manage a cryptocurrency reserve, marking a shift in state asset management. On Twitter, @Bitcoin_Laws stated, “🇺🇸 JUST IN: Arizona passes ‘Bitcoin Reserve’ bill HB2324. The bill creates a reserve for assets obtained through criminal asset forfeiture. If signed by Governor Hobbs, it will be the State’s second reserve bill passed into law.”
Governor Hobbs’ decision remains pending. Her past veto of similar bills adds uncertainty to HB2324’s outcome.
Historical actions in other states indicate varying strategies on seized asset management. Arizona positions itself as a potential leader in integrating digital assets into public policy. Updates on legislative progress can also be found on Twitter through public interactions:
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