On May 3, Hobbs vetoed a similar Bitcoin (BTC) reserve bill, Senate Bill 1025, which would have allowed the state to invest seized funds into Bitcoin, citing concerns over using public funds for "untested assets.”Hobbs’ move gives hope for future crypto billsBitcoin Laws founder Julian Fahrer said on X that Hobbs’ signing of HB 2749 offers more hope that she may also sign Senate Bill 1373, which is currently on her desk.
Related: Bitcoin bros at ‘the club’ may stop US gov’t from buying BTC — Arthur HayesSB 1373 would authorize Arizona’s treasurer, currently Kimberly Yee, to allocate up to 10% of Arizona’s Budget Stabilization Fund into Bitcoin. The bill’s passage in Arizona follows New Hampshire Governor Kelly Ayotte on May 6 signing House Bill 302 into law, allowing her state’s treasury to use funds to invest in cryptocurrencies with a market capitalization of more than $500 billion.
The state’s custodians can stake the crypto to earn rewards or receive airdrops, which can then be deposited into what Arizona has called a Bitcoin and Digital Asset Reserve Fund.“This law ensures Arizona doesn’t leave value sitting on the table and puts us in a position to lead the country in how we secure, manage, and ultimately benefit from abandoned digital currency,” the bill’s sponsor, Jeff Weninger, said in a May 7 statement.
or
Share This Story
Article Details
Author / Journalist: Cointelegraph by Brayden Lindrea
The story "Arizona governor signs law for state to keep unclaimed crypto" has 364 words across 11 sentences, which will take approximately 2 - 4 minutes for the average person to read.
Which news outlet covered this story?
The story "Arizona governor signs law for state to keep unclaimed crypto" was covered 1 days ago by Coin Telegraph, a news publisher based in United States.
How trustworthy is 'Coin Telegraph' news outlet?
Coin Telegraph is a fully independent (privately-owned) news outlet established in 2013 that covers mostly crypto news.
The outlet is headquartered in United States and publishes an average of 31 news stories per day.
It's most recent story was published 7 hours ago.
What do people currently think of this news story?
The sentiment for this story is currently Negative, indicating that people regard this as "bad news".
How do I report this news for inaccuracy?
You can report an inaccurate news publication to us via our contact page. Please also include the news #ID number and the URL to this story.
