news 
Arizona’s Bitcoin Reserve Bill Revived: Will the State Finally Approve?
Arizona lawmakers have revived their Bitcoin Reserve Bill, a proposal aimed at creating a state-managed fund for handling seized cryptocurrencies. The bill has already passed the Senate with a narrow 16-14 vote and now heads to the House of Representatives for final approval.
If approved, Arizona could become a national model for state-level digital asset management. The bill allows the state treasurer to manage cryptocurrencies seized through criminal investigations, while also updating the state’s asset forfeiture laws to include digital assets.
The plan outlines that the first $300,000 would go directly to the Attorney General’s Office. Any remaining funds would be split: 50% to the Attorney General, 25% to the state’s general fund, and 25% back to the reserve fund.
This isn’t Arizona’s first attempt at passing crypto-friendly laws. Earlier this year, two bills were signed into law, one for managing abandoned crypto assets and another for regulating crypto ATMs. However, Governor Katie Hobbs has previously vetoed two major crypto bills due to concerns over market instability.
The governor believes that the state should avoid putting general fund money at risk. The bill’s next hurdle is a final vote in the House of Representatives, where it needs at least 31 votes to pass. If cleared, the bill will land on Governor Hobbs’ desk for signature or veto.
While there is no guarantee of passage, proponents argue that this move could be a significant step forward in creating a standardized framework for state governments to handle digital assets.
Source: coinpedia.org
