The Arizona Senate has re -raised the bill that will create a reserve fund with confiscated crypto assets
Arizona re -approved the HB 2324 draft law in the Senate to establish a reserve fund that will manage the confiscated crypto assets. The bill regulates how to divide the revenues obtained while giving investment authority to the crypto. The draft rejected in the first attempt was sent to the House of Representatives again after the revision.
The state of Arizona has taken a new step to reinforce its pioneering position in legal arrangements for crypto currencies. The HB 2324 coded law draft envisages the establishment of a special reserve fund to be managed with seized digital assets. The bill was accepted on June 20 with 14 votes in the Senate and sent to the House of Representatives again.
🧾 What does the draft cover?
If it becomes a law:
Arizona State Treasury will establish the Bit Bitcoin and Digital Assets Reserve Fund ..
This fund will manage the crypto assets that are obtained and seized from crime.
The state will be able to use these assets for investment, re -investment and sales.
It will be allowed to invest in digital assets or ETFs containing these assets.
It also details digital asset security procedures such as the bill, special switch, password or approved wallets. It requires the state to transfer the confiscated crypto to a safe digital wallet.
Nasıl How will fund revenues share?
According to the bill, the revenues from the sale will be divided into three:
The first $ 300,000 will be transferred directly to the Anti-Rüşvet Doner Fund.
Income above this amount:
To 50 %Anti-Rüşvet Fund,
25 %to the general budget,
25 %will go to the newly established Digital Assets Reserve Fund.
This structure aims to finance the operations of law enforcement officers and to create accumulation in the crypto market.
🧮 Arizona plays a leading role in crypto laws
Arizona also approved another bill called HB 2749 for derelict and abandoned crypto beings. This new draft covers crypto beings that are only associated with crime and confiscated.
In addition, there are other bills of laws in the state that are currently under the evaluation phase. Among them:
Crypto ATM and Kiosk Safety
Crypto -based payments
Digital authentication
arrangements for such areas.
🇺🇸 Parallel developments at the federal level
While the echo of HB 2324 at the state level continued, there was a significant development at the federal level. The Stablecoin Draft Law, known as Genius Act, has passed through the US Senate and is now waiting to be discussed in the House of Representatives.
Former President Donald Trump described this law as a “vital step ve for the US global crypto leadership and called on the Parliament:
“This law must pass to secure America’s undisputed leadership in crypto beings.”
