365Crypto
Arizona lawmakers just hit the “undo” button on a failed crypto bill. House Bill 2324 is back on the table.
Senate Votes for a Comeback
The Arizona Senate voted 16–14 to bring back the bill.
HB 2324 was initially rejected on May 7 in the House.
Now it’s going back there again for another vote.
If it passes, it heads to the governor’s desk.
What’s the Bill About?
The bill wants to set up a Bitcoin and Digital Assets Reserve Fund.
That means Arizona could manage crypto it seizes or takes from criminal cases.
The state could also hold unclaimed digital assets.
No tax dollars would be used for it.
Where Does the Money Go?
The first $300,000 in seized crypto goes to the Attorney General’s office.
Anything extra is split: 50% to the AG, 25% to state funds, 25% to the reserve.
If someone dies, flees, or ditches their crypto, the state can claim it—
but only after proving no owner exists or stepped forward.
The Politics Behind It
Republican Jeff Weninger sponsored it.
Republican Jane Shamp revived it—though she voted “no” before.
The vote mostly followed party lines.
Oddly, one Republican, Jake Hoffman, voted against it again.
The Governor’s Record
Governor Katie Hobbs is cautious.
She signed a crypto bill on May 7—HB 2749—which lets Arizona keep unclaimed Bitcoin.
But she vetoed SB 1025 and SB 1373,
saying state funds shouldn’t gamble on crypto’s ups and downs.
Forfeiture laws: Legal rules allowing the state to take assets tied to crimes.
Airdrop: Free crypto given out to wallet holders, often to promote new tokens.
