Arizona governor rejects idea of creating BTC reserve from confiscated

The bill proposed using confiscated crypto assets to form the fund

Arizona’s governor again vetoed legislation to create a crypto reserve

02.07.2025 - 11:40

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3 min

What’s new? Arizona Governor Katie Hobbs has vetoed House Bill 2324, which would have created a reserve fund for seized cryptocurrency assets.

Katie Hobbs’ statement

What else is known? In a cover letter, Hobbs stated that the bill “disincentives local law enforcement from working with the state on digital asset forfeiture” because they would then be seized from counties in the state.

The House of Representatives passed the bill by a 34 to 22 vote last week. It proposed giving the state treasurer the authority to create a reserve fund for bitcoins and other cryptocurrencies obtained through forfeiture in criminal cases.

The governor’s approval would have allowed the state to invest in cryptocurrency assets or exchange-traded funds (ETFs) based on them.

Texas will be the first state in the US to create a bitcoin reserve

The authorities will invest $10 million in the asset

In May, Katie Hobbs also vetoed two bills to create a crypto reserve, including House Bill 1025, which would have allowed up to 10% of state treasury and pension funds to be channeled into bitcoin or other digital assets.

Hobbs also rejected Senate Bill 1024, which proposed accepting cryptocurrencies to pay fines, taxes, and fees.

At the same time, she signed Senate Bill 2387 to regulate crypto kiosks and ATMs.

In addition, Hobbs also signed House Bill 2749 at the same time to create a reserve of crypto assets unclaimed for three years. The authorities will be able to place assets from this fund into staking for rewards and the ability to participate in airdrops.

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The regulator is also ready to participate in the creation of a legislative framework

Arizona is also considering several other cryptocurrency bills, including Senate Bill 1062, which would expand the definition of legal tender in the state to include cryptocurrency.

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