Arizona Pushes Boundaries with New Crypto Reserve Fund Bill

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Arizona is making bold moves in the digital asset space. The state’s House of Representatives has approved HB 2324, a new bill that aims to create a dedicated Bitcoin and Digital Assets Reserve Fund. The legislation, which passed with a 34–22 vote and now heads to Governor Katie Hobbs, marks a significant step for Arizona’s approach to managing seized cryptocurrency.

The HB 2324 bill gives the state treasurer the power to invest, reinvest, and divest crypto holdings, including those obtained through criminal forfeiture. Under the proposed law, any digital assets acquired by the state can be managed similarly to traditional investments, such as exchange-traded funds (ETFs).

If signed into law, HB 2324 will build upon HB 2749 — a measure already enacted last month focusing on unclaimed digital assets. Together, these laws create a comprehensive approach for Arizona to secure, manage, and utilize digital assets for the state’s benefit.

According to the HB 2324 text:

• The first $300,000 from the sale of seized crypto will be deposited into the Anti‑Racketeering Revolving Fund.

• All additional proceeds will be split as follows:

  • 50% goes to the Anti‑Racketeering Fund.

  • 25% goes to the State General Fund.

  • 25% goes to the new Bitcoin and Digital Assets Reserve Fund.

Arizona at the Forefront of Crypto Legislation

With HB 2324 making its way to the governor’s desk, Arizona is positioned to become one of the first states to formalize a crypto reserve fund for digital assets obtained through enforcement measures. Meanwhile, state lawmakers are also exploring additional legislation related to crypto kiosks, enhanced security, and digital payments — reinforcing Arizona’s role as a forward‑thinking hub for digital finance.

Why This Matters:

Arizona’s initiative demonstrates how state authorities can adapt to the growing role of digital assets in both commerce and law enforcement. By aligning state policies with the evolving crypto landscape, Arizona aims to set an example for other states and solidify its place as a key player in the digital currency revolution.