Arizona creates the first Bitcoin reserve in the US from unclaimed digital assets
Arizona Governor Katie Hobbs signed Bill No. 2749, which allows the state to manage unclaimed digital assets, including cryptocurrency, and to create a reserve fund in Bitcoin.
Key provisions of the law:
Digital assets are considered abandoned if the owner does not respond to attempts to contact them within three years.
Such assets are transferred to the Arizona Department of Revenue in their original (native) form.
The state does not convert cryptocurrency to fiat but holds it as is.
Staking and receiving airdrops are permitted; the income generated is directed to a new fund — Bitcoin and Digital Asset Reserve Fund.
Previously, Governor Hobbs rejected a bill that proposed investing state funds in Bitcoin, citing risks associated with cryptocurrency volatility. However, the new law focuses on managing already existing unclaimed assets, without affecting the state budget.
Thus, Arizona becomes the first state in the US to officially create a state-managed Bitcoin reserve.
