🚨 BREAKING: Arizona Establishes Strategic Bitcoin Reserve
Arizona has officially enacted House Bill 2749, creating a state-managed Bitcoin and Digital Assets Reserve Fund. Governor Katie Hobbs signed the bill into law on May 7, 2025, making Arizona the second U.S. state to establish such a reserve, following New Hampshire's lead. Reddit+4Crypto Briefing+4KGUN 9 Tucson News+4Crypto Briefing+2U.Today+2Reddit+2
🧭 Key Provisions of HB 2749
Unclaimed Digital Assets: The reserve will hold unclaimed digital assets, including cryptocurrencies, that have been inactive for at least three years.KGUN 9 Tucson News+4Crypto Briefing+4FXStreet+4
Staking and Airdrops: Assets in the reserve may be staked by a qualified custodian to generate returns, and any staking rewards or airdrops will be deposited into the reserve fund.Crypto Briefing+1BeInCrypto+1
Abandonment Period: Digital assets are presumed abandoned after three years of inactivity unless the owner takes demonstrable actions like logging into an account or initiating communication.BeInCrypto+2Crypto Briefing+2FXStreet+2
Prohibition on Below-Market Sales: The state is prohibited from selling digital assets below prevailing exchange prices.Crypto Briefing
Custody and Management: Digital assets will be handled by a qualified custodian and may be actively staked to earn additional rewards. Crypto Briefing+1BeInCrypto+1
🗳️ Legislative Context
This move comes shortly after Governor Hobbs vetoed Senate Bill 1025, which would have allowed the state to invest up to 10% of its treasury and pension assets in digital assets like Bitcoin. In her veto message, the governor stated that “Arizonans’ retirement system is strong because it sticks to proven investment strategies,” and that it’s inappropriate to expose the state’s retirement funds to untested investments like digital assets. U.Today+5Crypto Briefing+5Reddit+5
