On May 8, 2025 — Arizona officially became the second state in the United States, after New Hampshire, to pass a law allowing the reserve of Bitcoin and cryptocurrency assets. This is a major turning point in the path of crypto adoption at the state level in the US, marking a notable change in less than a week.
Accordingly, the Governor of Arizona, Katie Hobbs, who had previously vetoed a bill related to Bitcoin reserve last week, today signed and approved Bill HB 2749. This bill allows the establishment of the state's crypto reserve fund, integrating digital assets into the state's unclaimed property management system, and permits Staking digital assets to receive rewards.
This is a move that demonstrates the rapid shift in the approach to digital assets in the US, especially in a context where states are competing to attract the Web3 and fintech industries. Legalizing digital asset reserves at the state level is not only symbolic but also paves the way for decentralized financial solutions (DeFi) and Staking mechanisms to be incorporated into the public budget system.
Arizona's Bill HB 2749 is expected to set a precedent for other US states in legally, transparently, and controllably recognizing and integrating digital assets into the traditional financial system.
