Arizona revives Bitcoin Reserve Law from seized assets

By Hannah Pérez

The Arizona Senate approved the “HB 2324” bill that proposes the creation of a bitcoin and cryptocurrency reserve fund created from confiscated tokens. He already approved a similar law relative to abandoned assets.

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• The Arizona Senate approved the bill “HB 2324”.
• It proposes the creation of a bitcoin and cryptocurrency reserve fund from confiscated tokens.
• Last month, Arizona promulgated a similar project focused on abandoned digital assets.
• Texas and Arizona are now in the final stretch for state reserves of Bitcoin; New Hampshire carries the lead.

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Arizona legislators, United States, have revived a bill that would allow that State to handle a strategic cryptocurrency reserve, including Bitcoinfrom confiscated assets.

The bill “HB 2324” of the House of Representatives of Arizona was approved on Thursday by the state Senate in an adjusted vote of 16-14, after being revived by procedural motions for reconsideration.

The legislation previously failed a final reading in the Chamber in May and was returned to the Senate for amendments, as reported The Block citing one Information sheet published by that legislative body.

The legislative proposal had been introduced in February and is now pending a final vote in the Chamber.

In particular, HB 2324 proposes the creation of a Bitcoin reserve fund and digital assets Managed by the state of Arizona, specifically to handle digital assets seized through criminal confiscations.

If officially passed, the legislation would allow the State Exchange of cryptocurrency licensed or retain them in their original form, depending on market conditions and safety. The fund would be under the supervision of the state treasurer, guaranteeing responsible management of these assets.

Arizona has already promulgated a similar law

According to The Blockthe pI would ermit to the Arizona government invest, reinvest and disable funds on digital assets or negotiated funds in the stock market (ETF) of Bitcoin or other cryptocurrencies.

The legislation also details the Specific terms on the allocation of sales of the seized cryptocurrencies and the procedures to ensure these seized assets, describing that the authorities must obtain access credentials such as private keys or passwords or ensure a digital wallet to guarantee the control of the funds.

The bill is aligned with Arizona’s efforts to integrate cryptocurrencies into their financial infrastructure. Its approval in the Senate follows the promulgation last month of HB 2749which has already established a similar fund for unresolved digital assets.

The governor of Arizona, Katie Hobbs, signed in May the bill HB 2749, which brings a lot close to the State to establish a strategic reserve of Bitcoinsince it allows the state retention of cryptocurrencies not claimed in its original form, instead of automatically liquidating them in dollars. This includes digital assets obtained through airdrops, rewards Staking or interests.

The difference between the two is that HB 2749 focuses on unlawled digital assets that are presumed abandoned, while HB 2324 addresses cryptocurrencies obtained through confiscation.

Also last month, Hobbs killed two bills of cryptocurren Bitcoin. The State is still reviewing several other bills focused on other aspects, such as cryptocurrency and payments, according to The Block.

Legislative advances of cryptocurrencies in the US.

More than a dozen states in the United States moved to discuss the adoption of Bitcoin As a treasury reserve asset at the beginning of this year, in the midst of the efforts of President Donald Trump to establish a reserve nationwide. Trump signed an order that creates a strategic reserve in March Bitcoin from seized assets.

Until now, New Hampshire is the only state that has created a state reserve of Bitcoin At full place, while similar bills in Arizona and Texas are in the final stages.

The last development in Arizona occurs after this week, the US Senate. Stablecoins nationally. That project now moves to the Chamber for consideration, and Trump has urged its rapid approval. The president asked to have “ASAP” on his desk, describing it as essential to ensure the position of the United States as the “undisputed leader“In cryptocurrencies.

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Hannah Estefanía Pérez / Diariobitcoin

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