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The Defiant 2025-05-08 05:05:17

Arizona's Governor Hobbs Signs HB 2749 and SB 1373 into Law, Establishing Strategic Bitcoin Reserve

Arizona's Governor Hobbs Signs HB 2749 and SB 1373 into Law, Establishing Strategic Bitcoin Reserve

Arizona has become the second U.S. state to pass legislation establishing a Strategic Bitcoin Reserve, following New Hampshire. Governor Katie Hobbs signed HB 2749 into law, reversing her earlier veto of a similar proposal, SB 1025. The new law, SB 1373, allows the state to hold unclaimed digital assets in their native form for three years before they are considered abandoned, and to establish a Bitcoin reserve fund where earnings from unclaimed assets can be deposited. The bill was led by House Commerce Committee Chairman Jeff Weninger and follows a previous attempt by State Senator Wendy Rogers to create a reserve, which was vetoed due to concerns about volatility and fiduciary risk. Texas is also on the verge of passing similar legislation, with the bill awaiting the signature of Governor Greg Abbott. To continue reading this as well as other DeFi and Web3 news, visit us at thedefiant.io

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