From Cointelegraph

May 7, 2025 10:05 PM:

Arizona Governor Katie Hobbs signed House Bill 2749 into law, allowing the state to claim ownership of abandoned digital assets and establish a “Bitcoin Reserve Fund” without using taxpayer money. The bill’s sponsor, Jeff Weninger, highlighted the importance of not leaving value unused and positioning Arizona as a leader in managing abandoned digital currencies.

On May 3, Governor Hobbs vetoed Senate Bill 1025, which aimed to allow the state to invest seized funds into Bitcoin, citing concerns about using public funds for “untested assets.” This decision gives hope for future crypto bills, including Senate Bill 1373, which is currently awaiting Hobbs’ approval.

Bitcoin Laws founder Julian Fahrer expressed optimism that Hobbs’ support for HB 2749 indicates a possibility of her signing SB 1373 in the future, which would authorize allocating up to 10% of Arizona’s Budget Stabilization Fund into Bitcoin. This move follows New Hampshire Governor Kelly Ayotte signing a similar bill into law, allowing investments in cryptocurrencies with a market cap exceeding $500 billion.

Currently, Bitcoin is the only cryptocurrency meeting that market cap threshold, making it an attractive investment option for states like Arizona and New Hampshire looking to diversify their assets. The passage of these bills reflects a growing trend of state governments exploring opportunities in the crypto space and recognizing the potential benefits of digital assets.

Read more at Cointelegraph: Arizona governor signs law for state to keep unclaimed crypto