Arizona has recently established a state-controlled bitcoin reserve fund, marking it as the first state to ensure that unclaimed bitcoin or cryptocurrency remains secured rather than sold for cash. This fund is intended to custody various cryptocurrencies and allows Arizona officials to stake crypto and collect airdrops without selling any coins. The law applies to property that remains unclaimed for three years, including potentially lost crypto exchange accounts. This move follows New Hampshire's similar legislation allowing a 5% investment of public funds into bitcoin. House Committee Chair Jeff Weninger emphasized the importance of securing and managing digital assets in the state. This initiative illustrates a notable shift in how states are approaching cryptocurrency, positioning them to lead in the management of abandoned digital currencies while advancing in the press of digital finance development.

Source 🔗