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Arizona Becomes Second U.S. State to Adopt Bitcoin for State Treasury
By: bitcoin ethereum news|2025/05/08 13:15:01
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Arizona has made history by becoming the second U.S. state to officially create a Strategic Bitcoin Reserve. On May 7, 2025, Governor Katie Hobbs signed House Bill 2749 into law, giving the state the green light to invest in Bitcoin and other top digital assets using profits from unclaimed property. To be clear, there were four Bitcoin Reserve-related bills proposed in Arizona this year. Senate Bill 1025 was vetoed, but HB 2749 successfully passed and has now been signed into law. Under this new law, Arizona will take profits from old, unclaimed assets — like forgotten bank accounts or uncollected checks — and convert them into Bitcoin. The idea is to protect the state’s money from inflation and build a stronger, more modern financial future, all without touching taxpayer dollars. Getting a lot of questions about the Arizona SBR law singing into law. To be clear: There are 4 bills for SBR in AZ. SB 1025 was vetoed. HB 2749 was signed into law! https://t.co/X7VydTkO9E — Dennis Porter (@Dennis_Porter_) May 8, 2025 The law also allows Arizona to collect rewards like interest, airdrops, and staking profits from these digital assets. It ensures that the funds are stored safely through regulated U.S. custody services and diversifies the state’s investment strategy without relying solely on Bitcoin. This important bill was championed by Representative Jeff Weninger, who guided it from draft to signature. Crypto exchange Coinbase also supported the bill by providing expert advice and testimony, helping push it across the finish line. Governor Katie Hobbs’ decision to sign the bill has made Arizona a frontrunner in digital-asset innovation within the United States. Source: https://coinpedia.org/news/breaking-arizona-becomes-second-u-s-state-to-adopt-bitcoin-for-state-treasury/
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