Arizona moved nearer to establishing a bitcoin
reserve fund after the state’s Senate voted in favor of the invoice at its third studying.
Arizona’s Senate handed House Bill 2324 (HB2324) in a 16-14 vote on Thursday, sending it again to Home for a remaining resolution.
The laws would replace Arizona’s legal guidelines on forfeiture, permitting the state to carry deserted digital belongings as unclaimed property. It additionally creates a “Bitcoin and digital belongings reserve fund” to handle the forfeited belongings.
It follows House Bill 2749 (HB2749), enacted in April, which amended unclaimed property frameworks to combine digital belongings.
The invoice is distinct from Senate Bill 1025 (SB1025), which proposed utilizing seized funds to spend money on BTC. That handed the Home 31-25 earlier than being vetoed by Governor Katie Hobbs, who referred to cryptocurrency as an “untested investment.”
The one state to have accomplished the legislative course of for creating a BTC reserve is New Hampshire. Like Arizona, a invoice in Texas is also in its final stages.