Arizona’s push to integrate digital assets into its financial framework is back on track, as House Bill 2324 was revived on June 19 following a Senate vote to reconsider the proposal.
The bill, which initially failed a third reading in the House on May 7, is now headed back to the chamber for another vote.
The Senate passed the motion to revive HB 2324 in a narrow 16-14 vote, split almost entirely along party lines. Republican Senator Jane Shamp, who had initially voted against the bill, filed the motion to reconsider — the only way a rejected measure can be brought back. Interestingly, Republican Senator Jake Hoffman was the lone member of his party to oppose the measure during the reconsideration.
🇺🇸 ARIZONA Update:
‘Bitcoin Reserve’ bill HB2324, which initially failed, has been revived after a ‘motion to reconsider’.
The bill would create a fund out of digital assets seized via criminal asset forfeiture.
It passed the Senate today 16-14, and is now in the House. pic.twitter.com/FKmLr8kSmJ
— Bitcoin Laws (@Bitcoin_Laws) June 19, 2025
Sponsored by Republican Senator Jeff Weninger, HB 2324 would create a “Bitcoin and Digital Assets Reserve Fund,” specifically tasked with managing digital assets seized through criminal forfeiture. The proposed legislation also outlines a broader framework for how the state would handle the seizure, storage, and allocation of digital assets under Arizona’s forfeiture laws.
If the bill clears the House — where Republicans currently hold 33 of the 60 seats — it will proceed to Governor Katie Hobbs for approval. Under HB 2324, the first $300,000 worth of digital assets seized in a forfeiture case would go to the Attorney General’s office. Any additional amount would be split, with 50% remaining with the Attorney General, 25% going to the state’s general fund, and the remaining 25% allocated to the new reserve fund.
The bill also authorizes asset seizures in cases where owners are deceased, deported, have fled the country, received immunity, or abandoned the assets, provided no legitimate claim to ownership can be verified after a diligent search.
This latest development follows mixed signals from Arizona’s leadership regarding crypto legislation. On May 7, Governor Hobbs signed HB 2749 into law, enabling the state to manage unclaimed digital assets and establish a Bitcoin reserve fund, without tapping into taxpayer or general fund money. That reserve can generate additional value through staking and airdrops.
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