- Governor Katie Hobbs signed HB 2749 into law, allowing the state to seize dormant crypto after three years, stake it, and channel rewards into a newly created Bitcoin and Digital Asset Reserve Fund—without using taxpayer money.
- The law’s passage comes just days after Hobbs vetoed a separate bill proposing direct Bitcoin investment from public funds, signaling a preference for passive accumulation through unclaimed assets.
- Meanwhile, Texas advanced its own Bitcoin reserve plan as SB 21 cleared a key House committee.
Governor Katie Hobbs signed House Bill 2749 into law on May 7, granting the state the right to claim ownership of unclaimed digital assets after three years of no contact with the original holder.
According to the announcement, once seized, the state can stake the assets, earn airdrops, and funnel all rewards into what’s now called the Bitcoin and Digital Asset Reserve Fund.
This is quite a contrast from three days ago, when Hobbs vetoed a Senate bill to invest 10% of the funds from the State Treasurer into Bitcoin.
HB 2749 lands just a day after New Hampshire passed its own crypto law. Governor Kelly Ayotte signed HB 302 on May 6, authorising her state’s treasury to invest in digital assets with a market cap above US$500B (AU$781B)—a threshold that, obviously, only Bitcoin qualifies for at present.
“The bill is budget-neutral and reflects a cautious but forward-thinking approach,” said Dennis Porter, CEO of Satoshi Action Fund, who called it the governor’s preferred crypto bill among the options on her desk:
Arizona just showed the country how to turn forgotten assets into a fortress against inflation. With HB 2749, lawmakers converted dormant dollars into digital gold —without touching the taxpayer’s pocket. It’s a win for fiscal responsibility and for every Arizonan who believes in sound money.
Dennis Porter, CEO of Satoshi Action FundHB 2749 was first introduced by Rep. Jeff Weninger and backed with bipartisan support. HB 2749 sidesteps that concern by keeping taxpayer funds off the table. It also updates Arizona’s statutory framework on abandoned property to account for digital assets, giving the state a legal route to handle forgotten wallets and unlock idle value.
Related: Crypto Chaos on Capitol Hill: Partisan Split Deepens Over Trump’s Digital Asset Ties
Texas Moves Forward with Bitcoin Reserve
In similar news, the Texas House Committee approved Senate Bill 21 in a 9-4 party-line vote, advancing the legislation to a full floor vote.
If it clears the final House vote, SB 21 will land on Governor Greg Abbott’s desk —likely before the legislature adjourns on June 2.
It’s worth remembering Abbott is a longtime crypto booster who once accepted Bitcoin donations during his 2014 campaign. He previously vowed to make Texas the “crypto capital” of the United States.
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