Arizona Governor Katie Hobbs has signed a bill that allows the state to legally take possession of unclaimed cryptocurrency and use it to build a Bitcoin and Digital Asset Reserve Fund—without touching taxpayer money. House Bill 2749, signed into law on May 7, empowers the state to classify digital assets as abandoned if owners do not respond to outreach attempts for three consecutive years. Once under state control, the assets may be staked to earn rewards or even receive airdrops, with any proceeds flowing into the newly established reserve fund. New Crypto Initiative in Arizona “This law ensures Arizona doesn’t leave value sitting on the table and puts us in a position to lead the country,” said Representative Jeff Weninger, who sponsored the bill. “We’ve created a framework that upholds property rights while accounting for the growing role of digital assets in the economy.” The state’s initiative is one of the first of its kind in the U.S., positioning Arizona as a potential bellwether for how local governments can handle the increasing volume of dormant or forgotten crypto holdings. Interestingly, Hobbs’ signature on HB 2749 came just days after she vetoed a similar piece of legislation—Senate Bill 1025—which would have permitted Arizona to invest seized funds into Bitcoin . Her reasoning at the time centered around caution, citing the risks associated with public investment into what she called “untested assets.” HB 2749, however, takes a different approach by using abandoned funds rather than taxpayer money, which likely made it more palatable for the governor. The law neatly sidesteps political resistance to direct state-backed crypto investment while still allowing the government to benefit from digital assets. Eyes Now on a More Ambitious Bitcoin Investment Proposal With the passage of HB 2749, momentum may be building for Arizona to take further crypto-positive steps . On Hobbs’ desk now is Senate Bill 1373, which proposes allowing the state treasurer to allocate up to 10% of the Budget Stabilization Fund into Bitcoin. Crypto advocates are watching closely to see if Hobbs, encouraged by the relative safety of HB 2749, will greenlight the bolder plan. Arizona’s move follows similar developments in New Hampshire , where Governor Kelly Ayotte recently signed a bill permitting crypto investment by the state treasury—but only for coins with over $500 billion in market cap, effectively naming Bitcoin alone. The post Arizona Greenlights Bitcoin Reserve Fund Using Unclaimed Crypto appeared first on TheCoinrise.com .
