Arizona Passes Unclaimed Crypto Law After Vetoing Reserve Last Week
Arizona becomes the first U.S. state to hold unclaimed crypto in its original form, following a veto on a separate crypto bill last week.
Arizona has passed HB 2749, allowing unclaimed crypto assets to be held in their native form rather than liquidated.
The law introduces a three-year dormancy threshold before digital assets must be turned over to the state.
A reserve fund will capture earnings from unclaimed assets, with distributions subject to legislative approval.
Arizona Governor Katie Hobbs (D-AZ) signed House Bill 2749 into law on Wednesday, introducing provisions to allow the state to retain unclaimed digital assets in their original form.
The bill, led by House Commerce Committee Chairman Jeff Weninger (R-AZ), modernizes Arizona’s unclaimed property laws to account for crypto by identifying, collecting, and safeguarding unclaimed digital assets and allowing the state to maintain its value instead of liquidating it.