In short
- The bill adopted the Senate 16-14 after procedural maneuvers and now goes to the house for a definitive vote.
- The Arizona bill is part of a broader national urge for crypto legislation at state level under Trump.
- The state has already hired one bitcoin invoice, but others are done veto.
The Senate of Arizona has a new life version of the so -called Bitcoin Reserve Bill, which has cleared the way for the proposal to go to the house for a definitive mood.
House Bill 2324 (HB 2324), which would establish a fund for digital assets confiscated by means of criminal loss of assets, the Senate applied on Thursday with a margin of 16-14.
Initially introduced in February, the bill made early progress by both rooms, but last month failed a definitive mood in the house.
The legislators brought HB 2324 back to life through a series of procedural “motions to reconsider” in both rooms. If adopted, the legislation would create a bitcoin and digital assets reserve fund, under the supervision of the treasurer of the state.
The fund would manage digital assets that are seized in criminal investigations, with options to store them in portfolios approved by the government, selling by means of recognized crypto exchanges or retain the assets in native form, depending on the market and safety conditions.
It also changes the laws of Arizona’s confiscation to record formally digital assets and to outline the retention requirements.
Arizona is one of the dozens of states that have entered Crypto-related legislation since the return of President Donald Trump in power, encouraged by a broader national push to define digital power frames at state level.
Although some bills have been successful, others have confronted with opposition or an executive veto.
Earlier this year, the Governor of Arizona Katie Hobbs House Bill 2749, the first successful digital asset reserve legislation of the state. The measure created A digital power fund aimed at abandoned assets.
The governor also approved the Bill 2387 house, which imposes consumer protection rules on crypto money machines that are active in Arizona.
However, Hobbs also has blocked Two more aggressive crypto proposals. At the beginning of May, a veto pronounced against Senate Bill 1025, so that the investments of the state would be permitted up to 10% of treasury and pension funds in digital assets, making it too risky for public pension systems.
She was also veto against Senate Bill 1373, which called for creating a reserve fund for crypto obtained by epileptic and legislative credits.
Edited by Sebastian Sinclair
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