Arizona's Crypto Reserve Bill Passes in the Senate, Now Faces Final Test in the House

PHOENIX – An important bill in Arizona aimed at creating a reserve of digital assets from criminal seizures, HB 2324, has successfully passed a major hurdle by being approved by the state Senate on June 19. Now, the bill returns to the House of Representatives for a crucial final vote.

If approved, this innovative bill will allow the state to establish a "Bitcoin and Digital Asset Reserve Fund." The fund will not use taxpayer money but will be filled with cryptocurrency seized from illegal activities, which can then be managed by the State Treasurer.

The journey of this bill has been quite dramatic. After initially failing in a vote in the House in May, it was revived and passed by the Senate with a narrow vote of 16-14.

Supporters of this bill see it as a progressive step in managing modern seized assets and strengthening Arizona's position as a leader in blockchain innovation. However, the bill must first obtain a majority vote in the House before it can move to Governor Katie Hobbs' desk, whose fate of signing it remains uncertain given her history of vetoing other crypto bills in the past.#ArizonaBTCReserve، $BTC