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Another historic Bitcoin decision from the USA: A signature is being signed.
Arizona Governor Katie Hobbs signed House Bill 2749, which facilitates the integration of cryptocurrencies into the state's unclaimed property system. Thus, Arizona became the second U.S. state to adopt a crypto reserve law, following New Hampshire.
The proposal was presented by Representative Jeff Weninger. The law will allow for the establishment of a "Crypto Reserve Fund." This fund will include unowned digital assets that are planned for future use with the approval of the legislative body. Additionally, it is also permitted to stake the cryptocurrencies in these reserves to earn rewards or airdrops.
Weninger stated the following in his statement:
"We are making legal regulations suitable for the future of finance by protecting unowned cryptocurrencies in their local format and creating a tax-free reserve for Bitcoin and digital assets. Thus, the people of Arizona will be able to receive the true market value of their assets."
On the other hand, last week, Hobbs vetoed a separate bill numbered SB 1025 that would allow the Arizona treasury and public pension funds to invest directly in cryptocurrencies. In her veto explanation, the governor stated, "The retirement funds of the people of Arizona should not be a testing ground for unproven investments like crypto."
This development follows the strategic reserve law signed by New Hampshire Governor Kelly Ayotte on Tuesday, which only covers Bitcoin, (HB 302). The New Hampshire law gives the state treasury the authority to invest up to 10% of its total funds in digital assets and precious metals with a market value exceeding $500 billion.
Published: May 8, 2025 13:59 Last Update: May 8, 2025 14:02