Arizona has enacted House Bill 2749, making it the first U.S. state to allow unclaimed crypto assets to be held in their original form rather than being liquidated. The law stipulates a three-year dormancy period after which unclaimed digital assets must be transferred to the state’s Department of Revenue. This measure aims to modernize Arizona's unclaimed property laws and enables the state to generate potential revenue from unclaimed assets, including earnings from staking rewards or airdrops. Governor Katie Hobbs signed this law shortly after vetoing a separate bill that sought to create a strategic Bitcoin reserve funded by seized state assets, citing concerns over volatility and the risks associated with investing public retirement funds in cryptocurrency. House Commerce Committee Chairman Jeff Weninger expressed that the law positions Arizona as a leader in managing and benefiting from abandoned digital currency assets. The move aligns with national trends as states explore crypto legislation, while similar attempts in other states have faced setbacks.

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