While the interstate Bitcoin (BTC) reserve race continues in the USA, the last good news came from Arizona. Accordingly, the Arizona Assembly passed the Bitcoin reserve bill HB2324. The Arizona House of Representatives passed the Bitcoin reserve bill HB2324, creating a reserve fund for assets seized through criminal forfeiture to be included in the reserves. The bill, which is now before Arizona Governor Katie Hobbs for a final signature, will be the state's second reserve bill to be enacted if signed by Hobbs. As you may recall, Governor Katie Hobbs has previously approved or vetoed some bills. Accordingly, Hobbs vetoed two Bitcoin Reserve bills that would allow state investment (SB1373 and SB1025). She had previously signed the reserve bill HB 2749 and paved the way for the creation of a reserve fund for unclaimed assets. HB 2324 clearly outlines how funds from sales of seized cryptocurrencies will be allocated. The first $300,000 raised will be directed to the Anti-Racketeering Revolving Fund. Any amount above that will continue to support the same fund at 50%, 25% will go to the state’s General Fund, and the remaining 25% will be allocated to the newly created Bitcoin and Digital Assets Reserve Fund. Arizona is also considering several bills related to cryptocurrency security, kiosks and payments. *This is not investment advice. Continue Reading: Bitcoin Race Accelerates: Second Good News for Bitcoin (BTC) Came From Arizona!
