Arizona has promulgated the bill of Chamber 2749, a measure that rewrites the state-claimed state to cover cryptocurrencies and creates a “bitcoin and digital asset reserve” entirely funded from abandoned digital participations. The signing of Governor Katie Hobbs makes Arizona the second state after New Hampshire (whose Bill 302 of the Chamber became the law on May 6) to adopt a statutory framework to hold bitcoin within the framework of public reserves, but the state of the Grand Canyon is the first to demand that the non -claimed tokens be transferred to the state “in their native form” species.
Arizona becomes second in Bitcoin breed among American states
HB 2749 succeeded in the two chambers with bipartite support and was sponsored by representative Jeff Weninger, republican president of the Chamber’s Commerce Committee. By announcing the law, Weninger has developed legislation as a practical response to an economic reality that has already arrived. “Digital assets are not the future-they are the present,” he said.
“This law guarantees that Arizona does not leave the 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.” He added that the law “protects property rights, respects property and gives state tools to take into account a new category of value in the economy”.
Under the new status, a digital asset is considered abandoned if its owner does not respond to three years of awareness. Once this threshold is reached, the holder must put the tokens – Bitcoin, ether or any other cryptocurrency – directly in the Arizona income department. The law authorizes the qualified guards to set up assets of evidence of bet, to collect guards and to harvest any other distribution on chain generated by the not claimed wallets.
All these income flows, as well as all the parts seized with which the owners emerge later, are deposited in Bitcoin and the reserve fund of digital assets, a supervised account by the State treasurer and subject to the ordinary legislative appropriation. Nothing in the text authorizes a credit of the general state fund or any other pool supported by taxpayers; In this regard, the measure is “non -budgetary”, as its donors point out.
The Satoshi Action Fund for non -profit, which provided technical assistance during the legislative drafting, praised the promulgation as a plan for other jurisdictions. “Arizona has just shown the country how to transform the assets forgotten into a fortress against inflation,” said Dennis Porter, general manager of the group. “With HB 2749, legislators have converted dollars dormant into digital gold – without touching the taxpayer’s pocket. It is a victory for tax responsibility and for each Arizonan who believes in good money. ”
Not like New Hampshire
The approval of Governor Hobbs intervenes four days after having opposed his veto to the Senate bill 1025, a broader proposal which would have enabled the State to deploy existing public funds and to seize goods in Bitcoin investments. In his veto message, the governor expressed his reservations on the pipeline of public money in “not tested active”.
The narrower extent of HB 2749 – restricted to the goods that the State already has in trust for missing owners – apparently responded to these concerns. Observers are now turning to the Senate 1373 bill, pending the Hobbs office, which would authorize the treasurer to allocate up to 10% of the Bitcoin budgetary stabilization fund in Bitcoin.
The Arizona move follows the entry of New Hampshire into the Bitcoin race one day earlier. In particular, the New Hampshire invoice approved a Bitcoin strategic reserve allowing the State to invest up to 5% of the total funds.
At the time of the press, BTC exchanged $ 99,348.
Star image created with dall.e, tradingView.com graphic
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