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Gov. Katie Hobbs signs bill to create Bitcoin reserve days after vetoing other cryptocurrency legislation
- On May 7, 2025, Governor Katie Hobbs approved legislation in Phoenix that created a state-run digital asset reserve fund.
- The law followed Hobbs' veto five days earlier of Senate Bill 1025, which proposed investing retirement funds in Bitcoin due to concerns over volatility and fiduciary risk.
- HB 2749 authorizes the state to claim custody of unclaimed digital assets inactive for three years, allowing staking and holding assets in native form under qualified custodians.
- The bill sets a three-year abandonment timeline matching traditional holdings, and restricts investment to digital assets with a market cap above $500 billion, primarily Bitcoin, which trades near $98,774.
- Arizona becomes the second U.S. State to create a formal digital asset framework, positioning itself as a potential leader in public finance innovation with positive reactions from advocates.
40 Articles
40 Articles
Arizona Establishes Strategic Bitcoin Reserve, Following President Trump’s Lead.
PULSE POINTS:What Happened: Arizona has established a Strategic Bitcoin Reserve by enacting House Bill 2749. Who’s Involved: Governor Katie Hobbs (D), State Representative Jeff Weninger (R), Satoshi Action Fund, and cryptocurrency exchange Coinbase. Where & When: Arizona, with the bill signed into law on Thursday, May 8, 2025. Key Quote: “Arizona just showed the country how to turn forgotten assets into a fortress against inflation,” said Dennis…
Arizona Bitcoin Law Fuels Qubetics Presale, Stellar, and Arweave as Best Crypto to Invest in May 2025
Arizona’s decision to legalize and launch its Bitcoin and digital assets reserve has rapidly accelerated confidence in blockchain-based assets. By allocating up to 10% of its $3.14 billion in public funds to digital assets, Arizona has become the second U.S. state—after New Hampshire—to formally embrace crypto reserves. Governor Katie Hobbs signed House Bill 2749 into law, creating a framework that supports the direct use of Bitcoin, NFTs, and o…
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