One of the Bitcoin Reserve Bills of Arizona has been revived after the state Senate passed a resolution on Thursday to reconsider the bill.
House Bill 2324 was initially voted in the House during his third reading on 7 May, but now after the Senate, he is back to the chamber for reconsideration after the Senate. Voted 16–14 in favor of measurement.
The bill will allow the state to create “bitcoin and digital assets reserve funds” to manage the seized digital assets. This is one of the many crypto bills that the state MPs have reviewed in recent months.
The Senate reconsideration votes for the Republican-supported bill almost went almost completely with party lines, with Republican Jake Hoffman with their party’s only member to vote against the bill.
Only one MLA, who originally voted against the bill, could file a resolution to reconsider – in this case, it was the Republican Senator Jane Shamp.
HB 2324 must get a majority votes from members of 60 Arizona House – 33 of which are Republicans – for approval to be sent to the desk of Governor Katie Hobbes.
Bill to divide bitcoin reserve funds between departments
If HB 2324 passes, a criminal until the criminal forcibly forcibly would head the Attorney General of the Attorney General of the first $ 300,000 of digital assets.
Then, any amount on it will be divided with the Attorney General, 25% for State General Fund and 25% new digital assets reserve funds, bills. State america,
The bills sponsored by Republican Senator Jeff Venninger, including digital assets, will also expand Arizona’s confiscated laws to establish provisions of their seizure, storage and allocation.
Arizona will be able to seize digital assets from individuals who have been dead, deported, run away, they have been given immune or abandoned property, provided that the state can prove that no known owner exists, that hardworking efforts were made to identify anyone and no one has claimed legal ownership.
Arizona Governor has signed a bitcoin bill
Governor Hobbes signed HB 2749 in law On 7 May, which allows the state to keep unclaimed crypto and install a bitcoin (BTC) Reserve fund that will not use anyone Tax payer currency Or state funds.
Can put Crypto at stake to earn the state’s Custodian Award or Get aircraftWhich Arizona then called “bitcoin and digital assets Reserve Fund”.
Hobbes veto two crypto bill
Another bitcoin reserve bill that reached the Hobbs Desk was the Senate Bill 1025, which proposed the construction of the Arizona Strategic Bitcoin Reserve Act (2025) and would have allowed the treasurer of the state to invest up to 10% in bitcoin and potential other crypto assets.
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However, Hobbes vetors the bill On May 2, citing concerns that the retirement funds should not come into contact with “unused investment such as virtual currency”.
Hobbes also veto On May 12, SB 1373, aimed at making “Digital Assets Strategic Reserve Fund”.
Hobbes said in his veto letter, “Current instability in cryptocurrency markets is not a prudent fit for the normal fund dollar.” “I have already signed the law in this session that allows the state to use cryptocurrency without a normal fund of dollar.”
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