Arizona is inching closer to becoming one of the first U.S. states to officially manage seized crypto assets, thanks to a newly passed bill called HB2324.
Approved by both chambers of the Arizona legislature, the bill is now on the desk of Governor Katie Hobbs, who must decide whether to sign it into law. If she does, the state will be allowed to store, manage, and possibly sell Bitcoin and other digital assets taken from criminals during investigations.
The bill gives Arizona the green light to:
- Use blockchain tech for secure asset handling,
- Work with trusted third parties for custody,
- Decide whether to store seized crypto in digital wallets or sell them through licensed exchanges, depending on market conditions.
This isn’t Arizona’s first crypto law. In fact, Governor Hobbs already signed HB2749, which created a small Bitcoin fund from unclaimed digital property. However, she previously vetoed two bills (SB1373 and SB1025) that would’ve let Arizona directly invest in crypto, calling it too risky due to price volatility.
That’s what makes HB2324 different—it’s not about crypto investment, it’s about managing seized crypto safely and legally, something law enforcement agencies are increasingly dealing with as digital currencies become part of more criminal cases.
If the bill is signed, Arizona will join the ranks of states like Texas and New Hampshire, which already have systems in place to handle seized crypto assets. The bill could even serve as a blueprint for other states looking to modernize their digital asset policies.
Bottom line: this law could make Arizona a pioneer in secure, legal, and tech-forward crypto asset management, all while avoiding the risks of state-level crypto speculation.
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