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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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- The addition of a few lines in a frequently-asked-questions page on the U.S. Securities and Exchange Commission website may open up the use of stablecoins in capital calculations for U.S. broker-dealers.
- The agency is instructing brokers that they need only give their stablecoins a 2% haircut when calculating how much they can be used as regulatory capital.
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