- The law establishes state control over abandoned digital assets.
- Katie Hobbs signed the bill into law.
- Bitcoin price rose post-signing of the law.
Governor Katie Hobbs signed HB 2749 in Arizona on May 7, 2025, allowing the state to take custody of unclaimed digital assets.
Arizona’s new law, signed by Governor Katie Hobbs, enables the state to take ownership of unclaimed digital assets. This follows her veto of a broader act focused on using public funds to invest in Bitcoin.
HB 2749, sponsored by Representative Jeff Weninger, focuses on assets abandoned for over three years. These assets will be added to a Bitcoin and Digital Asset Reserve Fund without involving taxpayer money.
Following the bill’s signing, Bitcoin’s price exceeded $98,500, reflecting a positive market response. The fund will grow through staking and airdrop rewards, further enhancing state financial resources.
This law ensures Arizona doesn’t leave value sitting on the table and puts us in a position to lead the country in how we secure, manage, and ultimately benefit from abandoned digital currency. It’s exactly the kind of policy we should be leading on—modern, precise, and built with an understanding of where technology and finance are heading.
– Jeff Weninger, Representative, Arizona State Legislature
This development emphasizes the growing trend of state-level involvement in digital assets. Arizona joins New Hampshire in creating structures for such assets, potentially prompting other states to follow.
The law could lead to changes in how states handle unclaimed digital currencies. By building on both financial and technological frameworks, Arizona sets an example for future legislative efforts in this domain.
About the author
Jetking Plans Substantial Bitcoin Investment
Jetking Infotrain Ltd., an Indian IT training company, plans to acquire 18,000 Bitcoins by 2030 to enhance its cryptocurrency holdings, marking a strategic shift by integrating Bitcoin into its traditional business model.
Astar Foundation Caps Token Supply with Tokenomics 3.0
Astar Foundation introduces Tokenomics 3.0 to implement a maximum token supply, ensuring economic predictability and network stability, led by CEO Sota Watanabe.
Emarat to Accept Cryptocurrency for Fuel Payments
Emarat partners with Crypto.com to enable crypto payments for fuel in UAE.
Oregon Enacts SB 167, Defines Digital Asset Controls
Governor Tina Kotek of Oregon signed SB 167 into law, establishing regulatory control standards for digital assets, positioning Oregon at the forefront of digital asset legislation.
Arizona, Oregon New Laws Boost Bitcoin Adoption
Arizona and Oregon pass legislation for cryptocurrency integration, impacting the financial market significantly.
Hackers Breach LockBit, Leak 60,000 Bitcoin Addresses
Hackers breached LockBit ransomware group, exposing 60,000 Bitcoin addresses, raising tracking opportunities.
Related
Jetking Plans Substantial Bitcoin Investment
Jetking Infotrain Ltd., an Indian IT training company, plans to acquire 18,000 Bitcoins by 2030 to enhance its cryptocurrency holdings, marking a strategic shift by integrating Bitcoin into its traditional business model.
Astar Foundation Caps Token Supply with Tokenomics 3.0
Astar Foundation introduces Tokenomics 3.0 to implement a maximum token supply, ensuring economic predictability and network stability, led by CEO Sota Watanabe.
Emarat to Accept Cryptocurrency for Fuel Payments
Emarat partners with Crypto.com to enable crypto payments for fuel in UAE.
Oregon Enacts SB 167, Defines Digital Asset Controls
Governor Tina Kotek of Oregon signed SB 167 into law, establishing regulatory control standards for digital assets, positioning Oregon at the forefront of digital asset legislation.
Arizona, Oregon New Laws Boost Bitcoin Adoption
Arizona and Oregon pass legislation for cryptocurrency integration, impacting the financial market significantly.
Hackers Breach LockBit, Leak 60,000 Bitcoin Addresses
Hackers breached LockBit ransomware group, exposing 60,000 Bitcoin addresses, raising tracking opportunities.
Be the first to leave a comment