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Arizona Moves Closer to Creating Bitcoin Reserve as Bill Passes Final Senate Vote
HB2324, which still needs House approval, would update Arizona's laws on forfeiture, allowing the state to hold abandoned digital assets as unclaimed property.
Jun 20, 2025, 9:04 a.m.
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What to know:
- Arizona moved closer to establishing a reserves fund for bitcoin after the state's Senate voted in favor of bill HB2324 at its third reading.
- The legislation now goes back to the House for a final decision.
- HB2324 would update Arizona's laws on forfeiture, allowing the state to hold abandoned digital assets as unclaimed property.
Arizona moved closer to establishing a bitcoin reserve fund after the state's Senate voted in favor of the bill at its third reading.
Arizona's Senate passed House Bill 2324 (HB2324) in a 16-14 vote on Thursday, sending it back to House for a final decision.
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The legislation would update Arizona's laws on forfeiture, allowing the state to hold abandoned digital assets as unclaimed property. It also creates a "Bitcoin and digital assets reserve fund" to manage the forfeited assets.
It follows House Bill 2749 (HB2749), enacted in April, which amended unclaimed property frameworks to integrate digital assets.
The bill is distinct from Senate Bill 1025 (SB1025), which proposed using seized funds to invest in BTC. That passed the House 31-25 before being vetoed by Governor Katie Hobbs, who referred to cryptocurrency as an "untested investment."
The only state to have completed the legislative process for creating a BTC reserve is New Hampshire. Like Arizona, a bill in Texas is also in its final stages.
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Ripple's Brad Garlinghouse says CLARITY bill has '90% chance' of passing by April
The bill would clarify which digital assets fall under securities law versus Commodity Futures Trading Commission oversight.
What to know:
- Ripple CEO Brad Garlinghouse said he now sees a 90 percent chance that the long-debated Clarity Act will pass by the end of April, citing renewed momentum in Washington.
- The bill would clarify which digital assets fall under securities law versus Commodity Futures Trading Commission oversight, addressing long-standing regulatory uncertainty that Garlinghouse says has weighed on innovation.
- Ripple, which has spent nearly $3 billion on acquisitions since 2023 and is now pausing major deals to focus on integration, argues that both crypto firms and traditional financial institutions increasingly want clear rules as attitudes toward digital assets shift.
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