Arizona governor signs law for state to keep unclaimed crypto
Arizona Governor Katie Hobbs signed House Bill 2749 into law, allowing the state to claim ownership of unclaimed digital assets after three years of no owner response. The law establishes a Bitcoin Reserve Fund that will not utilize taxpayer or state funds. Arizona's custodians can stake the crypto to earn rewards, which will be deposited into the fund. The bill's sponsor, Jeff Weninger, emphasized the importance of securing and managing abandoned digital currency. Hobbs previously vetoed a similar bill, Senate Bill 1025, due to concerns over public funds. The signing of HB 2749 raises hopes for the approval of Senate Bill 1373, which would permit the allocation of up to 10% of Arizona’s Budget Stabilization Fund into Bitcoin. This follows New Hampshire's recent legislation allowing cryptocurrency investments by its treasury.
