Two American states have taken important measures to integrate bitcoin and digital assets in public policy.
On May 7, Arizona and Oregon adopted new laws which report the growing acceptance of the crypto at the level of the state.
Arizona launches the digital active reserve
Arizona created a bitcoin and a reserve fund for digital assets following the adoption of the Bill of the Chamber 2749. Governor Katie Hobbs signed the bill on May 7.
The new legislation allows the State to claim the ownership of abandoned digital assets after three years of inactivity. Once in the custody of the state, these assets can be punctuated or used to receive air terminals, the profits deposited in the reserve.
According to Jeff Weninger, chairman of the Chamber’s Commerce Committee, the measure aims to guarantee that Arizona can capture the value of forgotten digital currencies. He noted that the framework respects property rights while helping the State to adapt to financial innovation.
He added:
“Digital assets are not the future – they are the present … We have built a structure that protects property rights, respects property and gives state tools to take into account a new category of value in the economy. This is exactly the type of policy on which we should lead – modern, precise and built with an understanding of how technology and finance were leading. ”
Meanwhile, the adoption of the Bill of Chamber 279 increased optimism among the defenders of cryptography, mainly while the Senate bill 1373 awaits the governor’s decision.
Crypto Bitcoin Laws’ plea cabinet said:
“This counts because SB 1373, which is the significant strategic reserve bill in Arizona, is currently at the Governor Hobbs office awaiting signature or veto.”
SB 1373 would allow the Treasurer of the State to allocate up to 10% of the Bitcoin’s Budget Stabilization Fund. Supporters argue that this would create strategic coverage for state finances.
Despite this progress, all the proposals focused on Bitcoin have not succeeded in the state. Governor Hobbs recently opposed a separate measure, the Senate Bill 1025, which would have enabled the State to invest in Bitcoin funds.
Hobbs cited concerns about the exposure of public money to volatile and not tested assets. However, the Senator of the Wendy Rogers State has promised to reintroduce the proposal for a future session.
Oregon recognizes crypto as guaranteed
Oregon has also taken an important step towards normalization of cryptography on the financial markets.
Thanks to Bill 167 of the Senate, the State has updated its uniform commercial code to classify digital assets as Bitcoin as a guarantee acceptable in guaranteed loans.
The law also recognizes the validity of electronic recordings, signatures and mixed transactions, creating a simpler route for blockchain -based trade.
Market experts claim that this update reduces uncertainty for institutions using crypto in loans and credit agreements. They also added that this legislative decision will stimulate the adoption of cryptography in the financial ecosystem of Oregon and encourage the development of loan products supported by assets.
