Key Highlights:
- Arizona’s HB 2324 allows the creation of a Bitcoin reserve funded by seized digital assets.
- $300,000 from forfeitures goes to the Attorney General’s office, with the rest split between the state and the reserve.
- Bill awaits Governor Hobbs’ signature.
Seized Crypto to Fund Arizona’s Bitcoin Reserve
Arizona lawmakers have approved House Bill 2324, which would establish a state-managed Bitcoin and digital assets reserve, funded exclusively with cryptocurrencies seized during criminal investigations. Passed by a 34-22 House vote, the bill revives a previously rejected measure and builds upon legislation already signed into law this year. It provides a legal framework for seizing, storing, and selling crypto assets, including Bitcoin and stablecoins.Governor Hobbs Holds the Final Say
Under the bill, the first $300,000 in seized digital assets will go to the Attorney General’s office. Additional funds will be split between the state’s general fund and the new digital asset reserve. Governor Hobbs has previously vetoed crypto-related bills citing concerns about market volatility and pension risk, but she has also backed regulatory oversight. Her upcoming decision will determine whether HB 2324 becomes law.
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