Arizona Governor Katie Hobbs has signed House Bill 2749, allowing the state to claim ownership of abandoned digital assets after three years of no communication from the owners. This new law also establishes a Bitcoin Reserve Fund that does not rely on taxpayer money or state funds. The state’s custodians may stake unclaimed crypto to earn rewards, which will be deposited into the reserve fund. According to bill sponsor Jeff Weninger, the legislation aims to ensure Arizona benefits from abandoned digital currency while respecting property rights. This signing follows a proposed similar bill in the Senate that aimed to allow state investment of seized funds into Bitcoin, highlighting growing interest in cryptocurrency regulations in the state. Furthermore, another bill on Hobbs’ desk could permit up to 10% of the Budget Stabilization Fund to be allocated into Bitcoin. This action positions Arizona, along with New Hampshire, as a state taking significant steps in cryptocurrency regulation and investment.

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