Governor Katie Hobbs of Arizona signed Bill No. 2749, which:
- Introduces regulations for handling unclaimed digital assets
- Creates a reserve fund in Bitcoin
- Allows staking and receiving airdrops, with the income directed to the fund
Key Provisions:
- Assets are considered abandoned if the owner does not respond for 3 years
- After that, they are transferred in their native form to the Department of Revenue
- The state does not convert crypto to fiat but keeps it as is
Jeff Weninger (bill sponsor):
“Digital assets are already a reality. Arizona is becoming a leader in managing abandoned cryptocurrency.”
Notably:
Previously, the same governor blocked a bill on BTC reserves, calling cryptocurrencies “unreliable.” Now, a more comprehensive approach to digital assets has been signed into law.
