The governor of Arizona, Katie Hobbs, has signed a bill that allows the United States status to maintain unlawful cryptography and establish a “Bitcoin reserve fund” that will not use any money from taxpayers or state funds.
Hobbs signed bill 2749 on May 7, allowing Arizona to claim the property of abandoned digital assets if the owner does not respond to communications within three years.
State custodians can rethink cryptography to obtain rewards or receive Airdrops, which can be deposited in what Arizona has called a Bitcoin and Digital Assets Reserve fund.
“This law ensures that Arizona leaves no value at the table and puts us in a position to lead the country on how we ensure, administer and, ultimately, of the abandoned digital currency,” said the sponsor of the bill in a statement on May 7.
“We have a structure that protects property rights, respects property and provides state tools to account for a new category of value in the economy,” Weninger added.
On May 3, Hobbs vetoed a similar Bitcoin Reserve Law (BTC), bill 1025 of the Senate, which would have allowed the State to invest funds seized in Bitcoin, citing Conerns on the use of public funds for “unseeding assets.”
Hobbs movement gives hope for future cryptographic invoices
The founder of Bitcoin Laws, Julian Fahrer, said in X that the HBBS firm of HB 2749 offers more hope that he can also sign the bill 1373 of the Senate, which is currently on his desk.
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SB 1373 would authorize Arizona’s treasurer, currently Kimberly Yee, to allocate up to 10% of the Arizona budget stabilization fund in Bitcoin.
The approval of the bill in Arizona follows the governor of New Hampshire, Kelly Ayotte, on May 6, Firming House Bill 302, which allows the treasure of his state to use funds to invest in cryptocurrencies with a market capitalization of more than $ 500.
Bitcoin is currently the only cryptocurrency that meets that threshold.
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