The Arizona House of Representatives has approved House Bill 2324 (HB2324), a measure aimed at creating a state-run reserve composed of Bitcoin and other digital assets obtained through criminal forfeitures. The bill passed the state Senate last week and is now awaiting Governor Katie Hobbs’ decision.
HB2324 proposes to formally recognize digital assets under Arizona’s existing asset forfeiture laws. It also introduces updated custody standards, including blockchain-based security, the use of third-party custodians, and various management strategies such as digital wallet storage, liquidation through licensed exchanges, or retention based on market trends.
If signed into law, this would become Arizona’s second attempt at establishing a crypto reserve. However, Governor Hobbs has previously vetoed two similar bills—SB1373 and SB1025—which would have allowed direct state investments in Bitcoin. The only crypto-related reserve measure she has approved so far is HB2749, which created a more restricted fund using unclaimed property assets.
June 2025, Cryptoniteuae
