Coinpaprika 2025-05-08 08:52:25

Arizona Joins Bitcoin Reserve Movement With Unclaimed Crypto Fund

Arizona has officially entered the digital asset arena with House Bill 2749 , which allows the state to collect and manage abandoned cryptocurrencies like unclaimed airdrops, staking rewards, and other lost tokens. The new law doesn’t permit fresh investments using public funds but creates a state-managed reserve funded only by unclaimed assets . Signed by Governor Katie Hobbs on May 7, HB 2749 marks a pivot from her earlier veto of the more aggressive Strategic Bitcoin Reserve Act, which proposed state investments into Bitcoin. This softer approach aims to generate value from idle crypto without financial risk to Arizona’s public treasury. Under the law, Arizona can claim digital assets left untouched for three years and use them to earn staking rewards or receive airdrops. All proceeds will be deposited into the newly established reserve fund. The bill’s sponsor, Rep. Jeff Weninger, emphasized its innovation, saying it places Arizona at the forefront of smart crypto policy, while sidestepping volatility concerns. Meanwhile, other proposals like SB 1373 , which suggests a more active digital asset reserve strategy, and HB 2324 , focused on forfeited crypto, are still under debate. Arizona joins a growing list of states experimenting with crypto reserves. New Hampshire recently led with HB 302 , while Texas and Oregon are advancing their own digital asset legislation. However, Florida’s efforts have stalled , underlining the mixed national response to crypto adoption at the state level.