{"id":128802,"date":"2025-05-08T02:18:01","date_gmt":"2025-05-08T02:18:01","guid":{"rendered":"http:\/\/cryptospotters.net\/?p=128802"},"modified":"2025-05-08T02:18:01","modified_gmt":"2025-05-08T02:18:01","slug":"arizona-governor-signs-law-for-state-to-keep-unclaimed-crypto","status":"publish","type":"post","link":"http:\/\/cryptospotters.net\/?p=128802","title":{"rendered":"Arizona governor signs law for state to keep unclaimed crypto"},"content":{"rendered":"<p>Source: Cointelegraph.com NewsArizona Governor Katie Hobbs has signed a bill into law allowing the US state to keep unclaimed crypto and establish a \u201cBitcoin Reserve Fund\u201d that won\u2019t use any taxpayer money or state funds.<br \/>\nHobbs signed House Bill 2749 into law on May 7, which allows Arizona to claim ownership of abandoned digital assets if the owner fails to respond to communications within three years.<br \/>\nThe state\u2019s custodians can stake the crypto to earn rewards or receive airdrops, which can then be deposited into what Arizona has called a Bitcoin and Digital Asset Reserve Fund.<br \/>\n\u201cThis law ensures Arizona doesn\u2019t 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,\u201d the bill\u2019s sponsor, Jeff Weninger, said in a May 7 statement.<br \/>\nArizona House Representative Jeff Weninger\u2019s statement on the signing of HB 2749 into law. Source: Jeff Weninger\u201cWe\u2019ve built a structure that protects property rights, respects ownership, and gives the state tools to account for a new category of value in the economy,\u201d Weninger added.<br \/>\nOn May 3, Hobbs vetoed a similar Bitcoin (BTC) reserve bill, Senate Bill 1025, which would have allowed the state to invest seized funds into Bitcoin, citing concerns over using public funds for &#8220;untested assets.\u201d<br \/>\nHobbs\u2019 move gives hope for future crypto bills<br \/>\nBitcoin Laws founder Julian Fahrer said on X that Hobbs\u2019 signing of HB 2749 offers more hope that she may also sign Senate Bill 1373, which is currently on her desk.<br \/>\nRelated: Bitcoin bros at \u2018the club\u2019 may stop US gov\u2019t from buying BTC \u2014 Arthur Hayes<br \/>\nSB 1373 would authorize Arizona\u2019s treasurer, currently Kimberly Yee, to allocate up to 10% of Arizona\u2019s Budget Stabilization Fund into Bitcoin.\u00a0<br \/>\nThe bill\u2019s passage in Arizona follows New Hampshire Governor Kelly Ayotte on May 6 signing House Bill 302 into law, allowing her state\u2019s treasury to use funds to invest in cryptocurrencies with a market capitalization of more than $500 billion.<br \/>\nBitcoin is currently the only cryptocurrency that meets that threshold.<br \/>\nMagazine: Crypto wanted to overthrow banks, and now it\u2019s becoming them in stablecoin fight<a href=\"https:\/\/cointelegraph.com\/news\/arizona-governor-signs-bitcoin-reserve-keep-unclaimed-crypto?utm_source=rss_feed&amp;utm_medium=rss&amp;utm_campaign=rss_partner_inbound\" target=\"_blank\" class=\"feedzy-rss-link-icon\" rel=\"noopener\">Read More<\/a><\/p>","protected":false},"excerpt":{"rendered":"<p>Source: Cointelegraph.com NewsArizona Governor Katie Hobbs has signed a bill into law allowing the US state to keep unclaimed crypto and establish a \u201cBitcoin Reserve Fund\u201d that won\u2019t use any&hellip; <\/p>\n","protected":false},"author":0,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[5],"tags":[],"_links":{"self":[{"href":"http:\/\/cryptospotters.net\/index.php?rest_route=\/wp\/v2\/posts\/128802"}],"collection":[{"href":"http:\/\/cryptospotters.net\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/cryptospotters.net\/index.php?rest_route=\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"http:\/\/cryptospotters.net\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=128802"}],"version-history":[{"count":0,"href":"http:\/\/cryptospotters.net\/index.php?rest_route=\/wp\/v2\/posts\/128802\/revisions"}],"wp:attachment":[{"href":"http:\/\/cryptospotters.net\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=128802"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/cryptospotters.net\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=128802"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/cryptospotters.net\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=128802"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}