Key Takeaways:
- Arizona’s new law allows the state to claim unclaimed crypto assets after three years and use them to generate returns through staking and airdrops.
- Proceeds from these digital assets will fund a newly established Bitcoin and Digital Asset Reserve Fund.
- The law follows a veto on a separate crypto investment bill but is seen as a sign of growing legislative momentum for digital asset adoption in Arizona.
Arizona Governor Katie Hobbs has signed House Bill 2749, a new law allowing the state to take ownership of digital assets deemed abandoned for at least three years.
The measure establishes a process for managing unclaimed cryptocurrency without using taxpayer funds.
🇺🇸 Arizona Update:
— Bitcoin Laws (@Bitcoin_Laws) May 8, 2025
HB 2749 has been signed into law, technically creating AZ's first crypto reserve.
It doesn't allow investment, but moves unclaimed assets, airdrops, and staking rewards into a reserve.
IMPORTANT: Shows Gov. Hobbs is willing to enact pro-crypto legislation pic.twitter.com/BeTRdD8GlD
If the rightful owner cannot be contacted during that period, the state may assume custody and stake the assets or collect airdrops.
Any proceeds will be funneled into a newly created Bitcoin and Digital Asset Reserve Fund.
Representative Jeff Weninger, the bill’s sponsor, stated that the law positions Arizona as a leader in managing abandoned digital assets while respecting property rights in a modern economic context.
The move comes shortly after Hobbs vetoed Senate Bill 1025, which would have allowed state investment in seized Bitcoin, citing concerns over using public money on “untested assets.”
Despite that veto, HB 2749’s approval is viewed as a positive step for future crypto-related legislation in Arizona.
Julian Fahrer, founder of Bitcoin Laws, suggested it could strengthen support for Senate Bill 1373, which proposes allowing up to 10% of Arizona’s Budget Stabilization Fund to be invested in Bitcoin.
Arizona’s action follows similar efforts in New Hampshire, which also embraced state-level crypto investments.
About The Author
Adam Morris, the co-founder of Crypto Head and a respected crypto expert, offers insightful commentary and analysis on cryptocurrency, NFTs, and the evolving digital landscape.
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