Bitcoin is already law in Arizona and Oregon
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The HB 2749 Law allows Arizona to create a reservation, but does not authorize the investment.
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Oregon launches the SB 167 Law, which clarifies legal terms on cryptoactive.
The governor of Arizona, Katie Hobbs, signed Law HB 2749, authorizing the creation of the first reserve of state cryptocurrencies. This legislation allows undeppent digital assets, airdrops and staking rewards to be allocated to a special fund, although it does not authorize direct investments. Meanwhile, in Oregon, Governor Tina Kotek placed her rubric in a project that provides clarity about the regulation for Bitcoin (BTC) and cryptoactives.
According to Jeff Weninger, president of the Arizona Committee of Commerce, the law “guarantees that Arizona does not waste value and positions them to lead the country in the protection, management and, ultimately, in obtaining benefits of abandoned digital currencies.” States that from the jurisdiction they have launched a structure that “protects property rights, respects ownership and gives the State the tools to account A new category of value in the economy«.
The measure, which received bipartisan support, although it also faced opposition, reflects the prudent approach of Governor Hobbs, who previously vetoed the SB 1025 law for concerns about the volatility of cryptocurrencies and their possible use in state retirement funds. With this initiative, Arizona becomes the second state of the United States, after New Hampshire, to establish a Bitcoin reserve.
As for Oregon, The new regulations updates the State Commercial Code (UCC) of the State and establishes a clear legal framework for the use of cryptoactives in commercial transactions. Among its main provisions, it recognizes digital currencies as a valid guarantee, a key step to enable their integration into financial contracts and credit operations.
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