Key Takeaways
- Arizona’s HB 2324 would let the state build a digital assets reserve from seized crypto assets.
- The bill has passed the House and awaits Governor Hobbs’ signature to become law.
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The Arizona House of Representatives on Tuesday passed House Bill 2324 (HB2324), legislation focused on creating a state-managed reserve for Bitcoin and other digital assets obtained through criminal forfeiture, according to the state’s bill tracker.
Revived earlier this month, HB2324 cleared the Arizona Senate last Friday and now heads to Governor Katie Hobbs for consideration.
The bill would authorize the inclusion of digital assets under the state’s asset forfeiture laws and establish modern custody protocols. These include blockchain-based access controls, the use of third-party custodians, and options for asset management such as digital wallet storage, liquidation through licensed crypto exchanges, or retention based on market conditions.
If signed into law, HB2324 would mark Arizona’s second state-level initiative to establish a crypto-based reserve.
Governor Hobbs has previously vetoed two Bitcoin reserve bills, SB1373 and SB1025, which sought to allow direct state investment in Bitcoin. The only reserve measure she has approved to date is HB2749, which created a more limited fund backed by unclaimed property.
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