Arizona officially launched its first Bitcoin and Digital Asset Reserve Fund by signing bill 2749. The bill does not authorize new investments. Instead, he focuses on the management of non -claimed digital assets.
This occurs shortly after passing the New Hampshire of HB 302, which makes it the first state to create a Bitcoin reserve (BTC).
The governor of Arizona signs HB 2749 after the veto on the veto strategic act of Bitcoin reserve
Governor Katie Hobbs sign HB 2749 on May 7 after the Senate Bill 1025, the Arizona Strategic Bitcoin Reserve Act. She has cited concerns about the volatility of digital assets and their inappropriateness for investments in the state -supported retirement system. However, HB 2749 responds to these investment problems.
“A few days after its veto at SB 1025, which would have enabled Arizona investing public funds and seized Crypto in Bitcoin, Governor Katie Hobbs (D) sign HB 2749, a scale version which finances a BTC reserve using the non -descriptive crypto, Matthew, Matthew, Matthew, note.
HB 2749 Allows the State to claim the ownership of abandoned digital assets if the owner does not respond to communications within three years. Once the state has ensured control of these assets, its guards can mark the crypto to win rewards or receive paratroopers.
All the awards earned thanks to punctures or Airdrops will be transferred to a newly created bitcoin reserve fund, allowing the State to manage these non -claimed assets and their profits.
“This law guarantees that Arizona does not leave value sitting on the table and we are able to direct the country in the way we secure, manage and ultimately benefit from abandoned digital currency. This is exactly the type of policy on which we should lead – modern, precise and designed with an understanding of the place where technology and finance are heading “, Bill's sponsor, the representative of Bill, Jeff Wininger, of Bill's technology and finance, Bill's godfather, Jeff Wininger's representation, said.
Arizona's legislative efforts extend beyond HB 2749. Two additional bills, SB 1373 and HB 2324, are being studied. SB 1373 Offers a strategic reserve of digital assets in Arizona, managed by the Treasurer of the State.
The fund includes appropriate funds and digital assets seized, that a qualified depositary will store safely. The bill allows the State to invest up to 10% per year and to lend digital assets for returns, without additional financial risks.
Meanwhile, HB 2324, which aimed to create a reserve for confiscated digital assets, failed its final reading on May 7. However, it is subject to a motion to review.
Other states also advance legislation on cryptocurrencies. The Texas Bitcoin reserve strategic bill (SB 21) recently pass The Senate and heads for a ground vote, signaling an increasing dynamic for cryptography initiatives at the level of the state.
“The Texas Bitcoin reserve should be a vote. highlighted.
In Oregon, Governor Tina Kotek signed SB167 place.
“The bill updates the uniform commercial code of the State to provide an essential clarity on the way in which digital assets are treated, for example legally recognized as guarantee. Large step for adoption ”, Bitcoin Laws poster.
Despite the progress of these states in the adoption of digital assets, the Bitcoin reserve proposals of Florida, HB 487 and SB 550, have failed to move forward. The lack of progress highlights the current debates and challenges surrounding the regulations and the adoption of digital assets at the level of the state.
While some states are making progress, others are facing obstacles to the integration of cryptocurrency in their financial systems.
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