Catenaa, Thursday, May 08, 2025-Arizona on Wednesday became the second US state to approve a cryptocurrency reserve law, as Governor Katie Hobbs signed House Bill 2749 into law, enabling the creation of a crypto asset reserve under the state’s unclaimed property framework.
However, earlier the Governor has vetoed the bill.
The legislation, introduced by Representative Jeff Weninger, allows Arizona to preserve unclaimed digital assets in their native form and establish a tax-free Bitcoin and Digital Assets Reserve. Qualified custodians can stake these assets for potential rewards and airdrops, pending legislative approval for fund utilization.
Arizona’s move comes just one day after New Hampshire enacted a similar strategic bitcoin reserve law, underscoring growing interest among states in integrating digital assets into public finance.
New Hampshire’s legislation permits investment of up to 10% of the state’s general fund in high-cap digital assets and precious metals.
Arizona is also considering Senate Bill 1373, which proposes a reserve from seized crypto assets. The bill awaits Hobbs’ decision.
However, she recently vetoed SB 1025, which would have permitted state retirement systems to invest in cryptocurrencies.
“Arizonans’ retirement funds are not the place for untested virtual currencies,” Hobbs wrote in her veto statement.
States including North Carolina and Texas are advancing similar bills, signaling a national trend in blockchain-based financial reserves.
