Arizona Lawmakers Bring Dead Bitcoin Bill Back From the Crypto Graveyard—And It’s Not Even Halloween

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Arizona: Home of the Grand Canyon, saguaro cacti, and now, lawmakers with a bizarre attachment to failed crypto bills. It’s official—if you’ve ever thrown out leftovers and then fished them back out of the trash, you and the Arizona State Senate have a lot in common this week. Yes, THAT Bitcoin reserve bill—the legislative equivalent of your ex texting, “U up?” at 3 a.m.—has stumbled back to life, slightly more unhinged but wearing the same coat.

Like a Zombie, The Bitcoin Reserve Bill Lurks Again

The Arizona Senate, apparently bored or in desperate need of new hobbies, just voted 16-14 to revive a Bitcoin reserve bill that the House already swiped left on last month. Back to the House it goes, because if there’s one thing we need, it’s more suspense over state-sanctioned crypto seizures. 👀

The drama this time? Republican Senator Janae Shamp, who literally voted against this bill, got to file the “Hey, let’s try this terrible idea again!” motion, because in politics, regret is apparently the hottest new fashion accessory.

House Bill 2324 (because we’re all keeping track), filed by crypto diehard Jeff Weninger, wants to drag Arizona’s forfeiture laws into the blockchain age. That means giving law enforcement new reasons to ask, “So, what’s your wallet password?” and dreaming up a “Bitcoin and Digital Assets Reserve Fund”—the sort of thing Scrooge McDuck would fall in love with today. 🪙

Here’s the fun part: the first $300,000 worth of seized digital loot waltzes straight into the Attorney General’s office, because who needs new schoolbooks when you can have Bitcoin? The rest gets carved up like Thanksgiving dinner: half to the Attorney General, a quarter to the State General Fund, and a quarter to—you guessed it—our sparkly new Digital Assets Reserve Fund.

HB 2324 throws in some protection for “innocent owners,” because, surprise, not everyone holding crypto is attempting a Mission: Impossible heist. The real goal: get crypto laws out of VHS mode and into streaming HD when it comes to criminal investigations.

Arizona’s Hot and Cold Relationship with Crypto Laws

All this legislative CPR follows Arizona’s decision to add crypto to its list of unclaimed property, setting up an official Bitcoin reserve. Yes, Arizona now has diamondbacks, unclaimed wallets, and more legislation about NFTs than anyone asked for. 🦎💸

House Bill 2749 (which Weninger also put his name on—guess he’s gunning for a job at Coinbase) was signed by Governor Katie Hobbs in May. The bill says, “Hey, authorities, you can keep people’s unclaimed crypto!” and sets up a reserve fund that doesn’t use state money or taxes. It’s the digital version of a lost-and-found bin at a tech convention.

Just to keep things spicy, this law doesn’t allow Arizona to gamble away its newfound Bitcoin riches on meme coins—no investing, just hoard those airdrops and staking rewards like a squirrel before winter.

HB 2749 brings Arizona’s “unclaimed stuff” laws into the era of digital wallets and Blockchain Bros. The state gets a neat flowchart for locking away mystery crypto, but still needs legislative approval to spend it. Somewhere, a lobbyist is quietly sobbing into his hardware wallet.

Over at Bitcoin Laws HQ, commentators are hyped that Governor Hobbs is embracing “pro-crypto” law, even though she pulled the plug on two other crypto bills last month. It’s a legislative rollercoaster, and nobody’s wearing a seatbelt.

The Senate’s rejected SB 1025 (let’s call it “Let’s Bet the Farm On Bitcoin!” Act) would have let official Arizona funds invest up to 10% in crypto. SB 1373 wanted a Digital Assets Reserve without tapping pension dollars. Governor Hobbs, with the energy of a substitute teacher during finals week, vetoed both, waving them off with warnings about “untested” and “volatile” assets. 🎢

So, for HB 2324 to make it to Hobbs’ desk, it’ll need a majority from the 60 House members. Place your bets, folks—this could go either way. Meanwhile, Arizona patiently awaits its official state hat: the tinfoil kind.

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2025-06-21 13:46