He passed through the parliament, the turn Valide

The House of Representatives of the Arizona adopted the HB 2324 bill with 22 votes against 34 votes. The draft passed from the Senate last week with 16-14 votes. Now in front of the Governor Katie Hobbs for the signature.

The draft aims to establish a “Bitcoin and Digital Asset Reserve Fund” connected to the state treasury. This fund will be responsible for the management and re -investment of the confiscated crypto currencies within the scope of criminal cases.

💰 How will the fund work?

According to HB 2324, the fund will have the following powers:

Crypto assets or crypto -containing ETFs will be able to buy and invest.

Will be able to sell, re -evaluate or liquidate seized assets.

The revenue sharing of the fund will be arranged as follows:

First $ 300,000 Organized Crime Fund (Anti-Racketeering Revolving Fund)

50 %of the next amount will be directed to the same fund

25 %will be transferred to the General State Fund

25 %will go to the newly created Crypto Reserve Fund.

🧭 Arizona’s crypto initiatives continue

This is Arizona’s second crypto -oriented law. Last month, the HB 2749 law was signed and the administration of unattended, abandoned crypto beings was taken into the state.

HB 2324 covers the crypos directly obtained from criminal ways. The state also evaluates other laws on crypto kiosks, digital security and crypto and payment systems.

Arizona is taking one of the leading steps in the regulation and transformation of crypto beings between US states. If the governor Hobbs approves the bill, a whole new era will begin in which confiscated Bitcoins benefit the treasury.