Arizona Passes Unclaimed Crypto Law After Vetoing Reserve Last Week
By: bitcoin ethereum news|2025/05/09 10:30:04
0
Share
In brief Arizona has passed HB 2749, allowing unclaimed crypto assets to be held in their native form rather than liquidated. The law introduces a three-year dormancy threshold before digital assets must be turned over to the state. A reserve fund will capture earnings from unclaimed assets, with distributions subject to legislative approval. Arizona Governor Katie Hobbs (D-AZ) signed House Bill 2749 into law on Wednesday, introducing provisions to allow the state to retain unclaimed digital assets in their original form. The bill , led by House Commerce Committee Chairman Jeff Weninger (R-AZ), modernizes Arizona’s unclaimed property laws to account for crypto by identifying, collecting, and safeguarding unclaimed digital assets and allowing the state to maintain its value instead of liquidating it. Under the new law, digital assets will be presumed abandoned if the rightful owner fails to respond to communications or record any activity on an account over a three-year period, putting it in line with current legislation on other financial products such as stocks. After this, holders must give the digital assets to the Department of Revenue in their native form. The law also creates a reserve fund where earnings from unclaimed assets, such as staking rewards or airdrops, can be deposited and later allocated through legislative approval. “This law ensures Arizona doesn’t leave value sitting on the table and puts us in a position to lead the country in how we secure, manage, and ultimately benefit from abandoned digital currency,” said Wenniger in a statement . This measure is separate from a higher-profile crypto proposal that was recently vetoed . That bill, brought by State Senator Wendy Rogers (R-AZ), sought to create a Strategic Bitcoin Reserve funded by seized state assets. Governor Hobbs vetoed it on May 2, citing concerns about volatility and fiduciary risk. “Arizonans’ retirement funds are not the place for the state to try untested investments like virtual currency,” she said in a letter on her decision. Rogers has pledged to reintroduce the bill in the next session. Across the U.S., state-level attempts to legislate crypto reserves and digital asset policy are heating up, though many are stumbling. Florida’s effort to allocate up to 10% of select public funds to Bitcoin collapsed last week when both HB 487 and SB 550 were pulled just before the legislative session ended, having never made it to a floor vote. Similar bills have also failed in Oklahoma, South Dakota, Montana, North Dakota, Pennsylvania, and Wyoming. Many of these had previously advanced out of committee, only to falter in later stages. New Hampshire, however, has had some success in passing crypto legislation. Governor Kelly Ayotte signed HB 302 into law on Tuesday, authorizing the state treasurer to allocate up to 5% of public funds to either precious metals or digital assets with a minimum average market cap of $500 billion, effectively greenlighting Bitcoin for state investment. Edited by Sebastian Sinclair Daily Debrief Newsletter Start every day with the top news stories right now, plus original features, a podcast, videos and more. Source: https://decrypt.co/318487/arizona-passes-unclaimed-crypto-law-after-vetoing-reserve
You may also like

The first stock of stablecoins, Circle, has officially launched the new public chain ARC points system, and the interactive guide is here
Arc is an internal project of Circle. Although it has not publicly raised funds, Circle Ventures launched the Arc Builders Fund (amount undisclosed) to attract investments from over 30 top VC networks in ecological projects.

Oil prices are approaching a critical point. What will happen in mid-April?
Time becomes the deciding factor, and the oil market will take three paths.

The oil price is approaching a critical point, what will happen in mid-April?
Time Becomes a Determining Factor as the Oil Market Takes Three Paths

Mechanism drives value, deflation leads the future: MIAU will officially launch on PancakeSwap on April 13
MIAU provides a new value paradigm for the industry with its threefold advantages of "FunPlusWeb3 trendy IP ecosystem + mechanism consensus + relative deflation."

Zhou Hang, the founder of Yidao Yongche: Cryptocurrency has finally arrived at its time to shine
Cryptocurrency has not failed; it has simply targeted the wrong users over the past decade.

Who else cannot be distilled into skill?
Token Hundred Thousand Slaughter Yama

Who else cannot be distilled into skill?
Token Yama of Decimation

The huge shock in the South Korean cryptocurrency market: How should traders view it?
As the contradiction between the institutional capital inflow brought by the new government's "pro-crypto" policy and the tightening of retail infrastructure intensifies, this structural "information asymmetry" in the Korean market will persist for a long time, continuously giving rise to fleeting e...

From "Kimchi Premium" to Bithumb's Rectification: An Interpretation of the Current Situation in the South Korean Crypto Market
Market structure or information gap? — Why does the South Korean crypto market often make global traders "lag behind."

How to Automate Your Workflow with AI (No Code Required)
Let Perplexity Do the Work for You

Conversation with Pantera Founder: Bitcoin Has Reached Escape Velocity, Traditional Assets Are Being Left Behind
BTC still needs 6-8 months to reach its bottom.

Is it still worth buying Circle on the callback?
Can Circle transform from a "stablecoin company that earns interest" into a global digital dollar infrastructure?

BIT Launches Landmark "Same Name Virtual Account" Feature: Ushering in a New Era of OTC Trading that is Convenient, Efficient, and Compliant
This marks a milestone for BIT in optimizing the large-scale fiat onramp channel and enhancing the asset allocation experience for high-net-worth individuals and institutional clients.

Further Oracle Integration Reveals Polymarket's Ambitions
The expansion of the data source is essentially an expansion of the market radius.

CoinGlass: 2026 Q1 Cryptocurrency Market Share Research Report
In the first quarter of 2026, the overall cryptocurrency market remained highly active, but trading volume gradually declined from the January peak.

Tiger Research: Analysis of the Current Situation of Retail Investors in Nine Major Asian Markets
We analyzed the entry barriers of the largest markets for nine potential user groups in Asia, as well as the responses of exchanges.

Forbes: Does quantum technology threaten the encryption industry? But it is more likely an opportunity
Quantum computing will not overturn blockchain, but it will force a reconstruction of its security system.

What Is Auto Earn? How To Claim Extra Free Crypto On Auto Earn 2026
What is Auto Earn and how do you use it? This guide explains how Auto Earn works and how balance increases and referrals may qualify for extra rewards during Auto Earn Boost Fest.
The first stock of stablecoins, Circle, has officially launched the new public chain ARC points system, and the interactive guide is here
Arc is an internal project of Circle. Although it has not publicly raised funds, Circle Ventures launched the Arc Builders Fund (amount undisclosed) to attract investments from over 30 top VC networks in ecological projects.
Oil prices are approaching a critical point. What will happen in mid-April?
Time becomes the deciding factor, and the oil market will take three paths.
The oil price is approaching a critical point, what will happen in mid-April?
Time Becomes a Determining Factor as the Oil Market Takes Three Paths
Mechanism drives value, deflation leads the future: MIAU will officially launch on PancakeSwap on April 13
MIAU provides a new value paradigm for the industry with its threefold advantages of "FunPlusWeb3 trendy IP ecosystem + mechanism consensus + relative deflation."
Zhou Hang, the founder of Yidao Yongche: Cryptocurrency has finally arrived at its time to shine
Cryptocurrency has not failed; it has simply targeted the wrong users over the past decade.
Who else cannot be distilled into skill?
Token Hundred Thousand Slaughter Yama
