Arizona Senate Revives Bitcoin Reserve Bill

• HB 2324 revived, Senate votes 16–14 to advance crypto reserve
• Seized digital assets can be stored, sold, or held natively
• Bill now heads to Arizona House for final decision

How HB 2324 Was Revived

Arizona’s HB 2324, also known as the Bitcoin Reserve bill, was reintroduced through a reconsideration motion in mid‑June. The Senate then passed it with a narrow 16–14 vote, sending it back to the House of Representatives for a final vote.

What the Bill Enables

If approved, the legislation empowers the state treasurer to establish a Bitcoin and Digital Assets Reserve Fund, integrating seized crypto from criminal forfeitures. The bill allows three handling methods:

1. Secure storage in approved digital wallets
2. Sale via licensed crypto exchanges
3. Retention in native form, guided by market conditions and security concerns

It also updates custodial standards for blockchain assets, including third-party qualified custodians and access protocols.

How Funds Are Distributed

Proceeds from seized asset sales are allocated as follows:

• The first $300,000 goes to the Attorney General’s Office
• The remainder is split: 50% to the AG, 25% to the state general fund, and 25% to the new reserve fund

Additionally, the reserve fund may invest in crypto assets or ETFs, with income returning to the state.

Why It Matters

Arizona is building on earlier crypto-friendly legislation. In May, it passed a related reserve fund law for airdropped or abandoned digital assets—but HB 2324 extends this to seized criminal assets. If signed, it would set a modern standard for state treasury management of digital assets and reinforce Arizona’s growing role in U.S. crypto policy.

Read Also:

• Can Trader 0xb8b9 Save His $2M Bitcoin Bet?
• According to Market Analysts, Qubetics Is the Best Cheap Crypto to Buy Now as Bitcoin and BNB Stay Neutral
• Cardone Capital Buys 150 BTC for $15.6M
• South Korea’s FSC Unveils Roadmap for Spot Crypto ETFs and Won‑Based Stablecoins
• SOL Correction Nears End as Bulls Target $220-$250