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Two US states have taken significant steps to integrate Bitcoin and digital assets into public policy. On May 7, Arizona and Oregon passed new laws that signal growing acceptance of crypto at the state level. Arizona launches Digital Asset Reserve Arizona has created a state-run Bitcoin and Digital Asset Reserve Fund following the passage of House Bill 2749. Governor Katie Hobbs signed the bill into law on May 7. The new legislation allows the state to claim ownership of abandoned digital assets after three years of inactivity. Once under state custody, these assets can be staked or used to receive airdrops, with proceeds deposited into the reserve. According to Jeff Weninger, Chair of the House Commerce Committee, the measure aims to ensure that Arizona can capture value from forgotten digital currencies. He noted that the framework respects ownership rights while helping the state adapt to financial innovation. He added: “Digital assets aren’t the future—they’re the present…We’ve 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. It’s exactly the kind of policy we should be leading on—modern, precise, and built with an understanding of where technology and finance are heading.” Meanwhile, House Bill 2749’s passage has increased optimism among crypto advocates, mainly as Senate Bill 1373 awaits the governor’s decision. Crypto advocacy firm Bitcoin Laws stated: “This matters because SB 1373, which is the meaningful Strategic Reserve bill in Arizona, is currently at Governor Hobbs’ desk awaiting either signature or veto.” SB 1373 would permit the state treasurer to allocate up to 10% of Arizona’s Budget Stabilization Fund into Bitcoin. Supporters argue that this would create a strategic hedge for state finances. Despite this progress, not all Bitcoin-focused proposals have succeeded in the state. Governor…

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Filed under: News - @ May 8, 2025 9:23 am