- Arizona’s HB 2324 authorizes a reserve fund for holding seized digital assets like Bitcoin.
- The bill passed in the House with a 34–22 vote and now awaits Governor Hobbs’ signature.
- This marks Arizona’s second legislative move to formalize crypto asset storage under state control.
Arizona is moving forward with legislation that would allow the state to hold seized cryptocurrencies, including Bitcoin, in an official reserve fund. House Bill 2324 passed through the state’s House of Representatives in a 34–22 vote, and now awaits Governor Katie Hobbs’ signature. If enacted, the bill would authorize the creation of a “Bitcoin and Digital Assets Reserve Fund,” making Arizona one of the first states to formalize the custody of forfeited digital assets under state control.
New Framework Targets Seized Cryptocurrency
The measure focuses exclusively on digital assets acquired through criminal forfeiture processes. It does not allow the state to buy or invest in cryptocurrencies using public funds. Instead, the bill outlines how Arizona can store and manage tokens it has already obtained through legal seizures.
Supporters emphasized that as digital assets increasingly appear in criminal proceedings, clear rules are necessary to handle and preserve their value. HB 2324 provides that structure, offering legal authority to manage a growing category of seized property. Lawmakers structured the reserve as a separate fund, under state oversight, dedicated solely to holding these assets.
Second Legislative Move on State Crypto Reserves
This is not Arizona’s first step toward crypto reserves. HB 2324 follows an earlier measure that laid the groundwork for the state’s involvement in digital asset custody. With this second bill, the legislature aims to expand that legal framework by including detailed provisions for seized tokens.
The reserve fund, once established, would function as a holding account without speculative investment strategies. Lawmakers kept the scope narrow, focusing only on asset storage, not trading or expansion. Still, the bill signals growing interest in digital asset management at the state level.
HB 2324 Awaits Governor’s Approval
Now that the House has passed the proposal, the next step rests with Governor Hobbs. If she signs HB 2324, the measure becomes law and the state can begin setting up its crypto reserve for forfeited assets.
Until then, the bill remains in process. No further steps can be taken without executive approval, but the legislative backing signals clear momentum for formal crypto asset management in Arizona.
