Subscribe to Bankless or sign in
Arizona passes new legislation creating a 
Bitcoin reserve backed by seized crypto and deploying rules for digital asset custody.
What’s the Scoop?
- Bitcoin Reserve Creation: Arizona House passes HB 2324, establishing a state-run Bitcoin and digital asset reserve funded through seized crypto.
- Fund Allocation: Seized crypto funds will allocate the first $300,000 to the Attorney General, with remaining amounts split between state operations and the reserve.
- Complementary Legislation: HB 2324 builds on a prior bill allowing Arizona to hold unclaimed crypto in its native form, staking rewards directed to state funds.
