Arizona Governor Katie Hobbs has officially enacted House Bill 2749, allowing the creation of a reserve fund for unclaimed digital assets, including airdrops and staking rewards.
This development follows Governor Hobbs’s recent veto of the Arizona Strategic Bitcoin Reserve Act (S.B. 1025), which aimed to permit the state treasurer and retirement system to allocate 10% of available funds toward investments in cryptocurrency.
House Bill 2749 as a ‘Budget-Neutral’ Initiative
Signed into law on Wednesday, House Bill 2749 positions Arizona as the second state in the U.S. to formally outline a framework for managing cryptocurrency, following New Hampshire’s legislation enabling government investments in crypto reserves.
“Arizona just demonstrated how to transform overlooked assets into a robust defense against inflation,” stated Dennis Porter, CEO of Satoshi Action Fund, in a recent announcement.
ARIZONA SIGNS STRATEGIC BITCOIN RESERVE INTO LAW! pic.twitter.com/xQXsm2fEXQ
— Dennis Porter (@Dennis_Porter_) May 8, 2025
Porter characterized the bill as a “victory for fiscal responsibility,” highlighting that it offers a “forward-thinking, budget-neutral approach to future-proofing the state’s treasury.”
In a separate discussion, Porter pointed out the budget-neutral aspect of the new legislation distinguishes it from the bill that was vetoed. “There were 4 bills. The Gov liked this one the most,” he noted.
State Authority over Unclaimed Cryptocurrencies for Three Years
According to the official release, the state will declare digital assets abandoned if the rightful owners do not respond to communications over a period of three years. During this time, state-appointed custodians are allowed to stake these cryptocurrencies for potential rewards or to receive airdrops.
Any rewards generated from unclaimed crypto held for three years will be channeled into the newly established fund.
The bill received bipartisan support from both legislative chambers and was spearheaded by House Commerce Committee Chair Rep. Jeff Weninger.
“This law ensures that Arizona capitalizes on value that would otherwise go unrecognized and positions us as a leader in how to safeguard, manage, and ultimately leverage abandoned digital currency,” Rep. Weninger remarked.
He added that the framework protects property rights, honors ownership, and equips Arizona with the means to account for a new class of economic value.
“This is precisely the type of innovative policy we should pursue—modern, accurate, and designed with an awareness of emerging trends in technology and finance.”
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