Arizona Governor has signed a landmark legislation to claim ownership of unclaimed crypto and channel it towards Bitcoin and digital asset reserve funds.
In a major development in US digital asset policy, Govenor Katie Hobbs signed into law the House Bill 2749, on May 7 2025, which allows Arizona state to take control of digital assets that have remained abandoned for at least three years, in the event the rightful owner does not respond to outreach efforts.
Under the new statute, Arizona’s custodians may stake the unclaimed crypto, earn rewards, or receive airdrops to contribute to the reserve fund. Crucially, the fund operates without using taxpayer money or state financial resources.
Rep. Jeff Weninger, the bill’s sponsor in a statement emphasized that the framework upholds property rights while providing the state with new tools to manage digital economic assets.
“This law ensures Arizona doesn’t leave value sitting on the table and puts us in a position to lead the country in how we secure, manage, and ultimately benefit from abandoned digital currency,” he said.
Source: Jeff Weninger
Four days ago, on May 03, 2025 Governor Hobbs vetoed Senate Bill 1025, a proposal that would have allowed the state to invest seized funds in Bitcoin citing concerns over committing public funds to what she termed “untested assets.”
Despite that veto, crypto advocates see the passage of HB 2749 as a sign of growing institutional acceptance.
Bitcoin Laws founder Julian Fahrer noted on X that the new law offers optimism for the future of crypto-related legislation in Arizona. One such proposal, Senate Bill 1373, remains on the governor’s desk and seeks to permit the state treasurer to invest up to 10% of Arizona’s Budget Stabilization Fund in Bitcoin.
Furthermore, Arizona’s move comes a day after New Hampshire Governor Kelly Ayotte signed a bill granting th state’s treasury authority to invest in cryptocurrencies with a market capitalization exceeding $500 billion, a threshold currently met only by Bitcoin.
