Arizona Governor Katie Hobbs recently approved a bill that allows the state to claim unclaimed cryptocurrencies and establish a 'Bitcoin$BTC
Reserve Fund' without using taxpayer money. The law, signed on May 7, permits Arizona to take ownership of abandoned digital assets if the owner does not respond to communications within three years. $XRP
Custodians can stake the crypto for rewards or airdrops, which will be deposited into the Bitcoin and Digital Asset Reserve Fund. The bill's sponsor, Jeff Weninger, emphasized the importance of not letting value go to waste and positioning Arizona as a leader in managing abandoned digital currency. $ETH
Hobbs vetoed a similar bill earlier due to concerns about using public funds for untested assets. The approval of this new law has raised hopes for the signing of another bill that would allow allocating state funds into Bitcoin, following a trend seen in other states like New Hampshire.
