Arizona House Clears Bitcoin Reserve Bill Funded by Seized Crypto
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The bill directs the first $300,000 from seized crypto to the Attorney General, with the remaining funds split between the state and reserve.
By Matt BrienenArizona’s revived push to bring Bitcoin into state coffers is one signature away from becoming law.
The Arizona House of Representatives approved House Bill 2324 on Tuesday in a 34-22 vote, reviving a measure that failed its first final vote in May.
The legislation creates a framework for Arizona to establish a "Bitcoin and Digital Assets Reserve Fund" that would be managed by the state treasurer and funded exclusively through digital assets seized in criminal investigations.
HB 2324 would mark Arizona’s second digital asset reserve law this year, joined only by House Bill 2749, which Governor Hobbs signed in May.
That law changed unclaimed property regulations to allow crypto to be held in native form, with staking rewards diverted into a state crypto fund.
HB 2324 further amends Arizona’s forfeiture laws to explicitly cover digital assets, including Bitcoin, stablecoins, and other virtual currencies.
It establishes protocols for seizure, storage, and sale, with proceeds divided between law enforcement, the state general fund, and a new digital asset reserve.
The first $300,000 from any forfeited digital asset would be directed to the Attorney General’s office, with additional proceeds split between state coffers and the reserve fund.