The reconsideration motion was filed by Republican Senator Jane Shamp, who had originally voted against the bill. Interestingly, the Senate vote followed mostly party lines, with only Republican Senator Jake Hoffman breaking ranks to oppose the legislation.

What the Bill Proposes

If passed, HB 2324 would allow the state to manage seized digital assets under a newly created reserve fund. According to the bill:

• The first $300,000 worth of seized Bitcoin (BTC) and digital assets would go to the Attorney General’s office.
• Any amount above that would be distributed as follows: 50% to the Attorney General, 25% to the state’s general fund, and 25% to the new reserve fund.

You Might Be Interested In: Elon Musk Talks About the Name of a New Memecoin!

In addition, the bill seeks to expand Arizona’s forfeiture laws to include digital assets — outlining procedures for seizure, storage, and distribution. The state would be authorized to seize crypto assets in cases where the owner is deceased, deported, fled, granted immunity, or legally untraceable after due diligence.

Governor Hobbs: Supportive Yet Cautious

Governor Katie Hobbs has taken a mixed stance on cryptocurrency legislation. On May 7, she signed HB 2749 into law, which authorizes the creation of a Bitcoin reserve fund that doesn’t rely on taxpayer money. This fund allows the state to stake crypto and collect airdrops for additional yield.

However, she vetoed SB 1025 on May 2 — a proposal that would have allowed Arizona’s treasury to invest up to 10% in Bitcoin and other digital assets. In her veto letter, Hobbs stated that public retirement funds should not be exposed to untested investments.

She also rejected SB 1373 on May 12, which aimed to form a “Digital Assets Strategic Reserve Fund,” again citing high volatility in the crypto markets as a risk to public resources.

What This Means for Crypto Policy

The debate in Arizona highlights a broader trend in the U.S.: balancing innovation in the blockchain space with regulatory caution. If HB 2324 passes the House, it will head to Governor Hobbs’ desk for final approval. The outcome could signal a stronger institutional role for Bitcoin and digital assets in state-level governance.

You can also freely share your thoughts and comments about the topic in the comment section. Additionally, don’t forget to follow us on our Telegram, YouTube, and Twitter channels for the latest news and updates.

The post Arizona Senate Revives Bitcoin Bill After Reconsideration Vote appeared first on Coin Engineer.

Senator and Bitcoin supporter Wendy Rogers, who co-sponsored the bill, reacted strongly: “Bitcoin doesn’t need Arizona. Arizona needs Bitcoin.” The proposal aimed to use seized funds to invest in Bitcoin and create a state-managed crypto reserve.

Crypto Advocates Say Politicians Don’t Understand The Future

Casa co-founder Jameson Lopp responded by saying, “This will age poorly.” Bitcoin advocate Anthony Pompliano commented, “Imagine the ignorance of a politician thinking they can make investment decisions.”

You Might Be Interested In: Elon Musk Talks About the Name of a New Memecoin!

Attorney Andrew Gordon added, “We need more elected officials who understand that Bitcoin and crypto are the future.” Rogers emphasized that Arizona’s retirement fund already holds MicroStrategy (MSTR) shares, which she described as “basically a leveraged Bitcoin ETF.” The stock rose 32% in April, marking its best performance since November 2024.

Rogers confirmed she would reintroduce the bill in the next legislative session, saying, “Arizona’s Strategic Bitcoin Reserve bill will be back. HODL.”

More States Struggle With Crypto Legislation

Had it passed, Arizona would have become the first U.S. state to create a Bitcoin Strategic Reserve. Instead, it joins other states like Oklahoma, Montana, South Dakota, and Wyoming, where similar efforts have stalled or failed.

Prominent crypto critic Peter Schiff supported Hobbs, stating, “Governments shouldn’t use public funds to speculate on cryptocurrencies.”

You can also freely share your thoughts and comments about the topic in the comment section. Additionally, don’t forget to follow us on our Telegram, YouTube, and Twitter channels for the latest news and updates.

The post Bitcoin Backlash: Arizona Governor Slammed Over Veto appeared first on Coin Engineer.

The Bill to Make Crypto a Reserve Asset is Rejected

The bill, called the “Digital Assets Strategic Reserve,” which was passed by the Arizona Senate, allowed the state to invest a portion of its seized funds in Bitcoin and other digital assets. However, the bill was officially vetoed by Governor Hobbs on May 2nd.

In her statement, Hobbs explained:

“Today, I vetoed Senate Bill 1025. The Arizona Retirement System is one of the strongest in the nation because it makes careful and informed investments. The retirement savings of Arizona citizens are not the place to experiment with speculative digital assets.”

Despite the veto, the bill had passed its final vote in the House on April 28, with 31 votes in favor and 25 votes against.

Another Crypto Bill Awaits Final Vote

Another bill, SB1373, which proposes to allocate up to 10% of Arizona’s rainy-day fund into digital assets like Bitcoin, has not yet reached a final vote. This bill is closely related to the previous one and is still under consideration in the state legislature.

Arizona joins other states where similar attempts have failed. Recently, similar proposals in Oklahoma, Montana, South Dakota, and Wyoming were either withdrawn or failed to pass through the legislature.

Some States Open to Crypto Investments

Despite this setback, some states are taking a different approach. North Carolina passed a new law on April 30 that allows the state treasurer to invest up to 5% of certain funds in approved cryptocurrencies. The bill is now under review by the state Senate.

At the federal level, similar proposals are being discussed. President Donald Trump and some Republican senators have proposed the creation of a “Strategic Bitcoin Reserve” within the U.S. Treasury. A presidential order signed in March included plans to establish a stockpile of digital assets.

Also, in the comment section, you can freely share your comments and opinions about the topic. Additionally, don’t forget to follow us on Telegram, YouTube and Twitter for the latest news and updates

The post Arizona Rejects Bitcoin! No Room for Crypto in State Reserves appeared first on Coin Engineer.

What the Bill Includes

• A reserve fund made of seized digital assets from criminal proceedings.
• The state treasurer can invest up to 10% of the fund in digital assets per fiscal year.
• Loans can be made from the fund to boost returns, as long as risk remains controlled.

You Might Be Interested In: Elon Musk Talks About the Name of a New Memecoin!

However, Governor Hobbs has recently vetoed 15 bills in one week and pledged to block all legislation until a disability funding bill is passed.

US States in the Bitcoin Reserve Race

Arizona is also advancing SB 1025, a separate bill focused solely on Bitcoin (BTC), allowing public retirement systems and the treasury to allocate up to 10% in BTC.

Other states like Texas, Utah, and New Hampshire have proposed similar legislation. But according to Bitcoin Laws founder Julian Fahrer, Texas may be the first to succeed due to fewer political hurdles.

You can also freely share your thoughts and comments about the topic in the comment section. Additionally, don’t forget to follow us on our Telegram, YouTube, and Twitter channels for the latest news and updates.

The post Arizona Crypto Reserve Bill One Step from Becoming Law! appeared first on Coin Engineer.

Important Step for Bitcoin in Arizona: Bitcoin Strategic Reserve Bill SB1373

The Arizona House of Representatives’ Commerce Committee passed the Bitcoin Reserve Bill SB1373 with a 6-4 vote. The approval of this bill marks a significant step in the state’s approach to cryptocurrency management and regulation.

The passage of the bill strengthens Arizona’s stance on adopting Bitcoin and other digital assets. SB1373 may enable the state to explore supporting certain financial reserves with Bitcoin. It is seen as a critical development for broader legal regulations that could allow the use of cryptocurrencies in public funds and economic strategies.

This move demonstrates Arizona’s proactive attitude toward financial innovation and the adoption of digital assets. The progress of this legislation in the state Senate and beyond will continue to be an important development for the crypto markets.

What’s Included in SB1373?

SB1373 allows the creation of a Digital Assets Strategic Reserve Fund. This fund will consist of appropriated amounts by the state legislature and digital assets seized by the state. The state treasurer will manage the fund, and digital assets will be invested in secure custody solutions by a qualified custodian or a registered investment company within the state.

The bill restricts the investment to no more than 10% of the total fund each year. Additionally, digital assets may be loaned, but it must be managed in a way that does not increase financial risks. Digital assets are defined as virtual currency, coins, Bitcoin, stablecoins, NFTs, and other digital assets conferring economic, proprietary, or access rights.

The bill imposes stringent security measures for the safekeeping of digital assets. Cryptographic private keys must only be known by state officials, stored in secure data centers, and require a multi-user management system. These provisions set high security standards for the protection and management of digital assets.

You can freely share your thoughts and comments about the topic in the comment section. Additionally, don’t forget to follow us on our Telegram, YouTube and Twitter channels for the latest news and updates.

The post Arizona’s Bitcoin Strategic Reserve Bill passed the Commerce Committee appeared first on Coin Engineer.

Rejection of the Bitcoin Reserve Bill!

In Montana, a bill aimed at directing public funds toward Bitcoin and other digital assets was voted down in the House of Representatives by a margin of 41 to 59. The bill sought to diversify the state’s assets and generate higher returns. However, despite Bitcoin being the only digital asset meeting the bill’s criteria, it faced strong opposition from lawmakers.

This rejection increases the number of U.S. states that are unwilling to use public funds for Bitcoin investments. North Dakota, Wyoming, and Pennsylvania are also among the states that have refused similar regulations.

You Might Be Interested In: Elon Musk Talks About the Name of a New Memecoin!

States Open to Bitcoin Reserves

Some states, on the other hand, are making progress toward legalizing Bitcoin reserves. According to Bitcoin Reserve Tracker, 19 states, including Arizona, Illinois, Kentucky, Maryland, Oklahoma, New Hampshire, and Texas, still have Bitcoin reserve-related bills under consideration.

• Utah: The “Blockchain and Digital Innovation Amendments” bill includes a provision allowing the state treasury to allocate up to 5% of its funds to digital assets. The bill is still pending.
• Arizona: The Senate Finance Committee has approved a bill that would allow public funds (including pension systems) to allocate up to 10% to cryptocurrencies. The bill has been sent to the Senate Rules Committee for further review before moving to the House of Representatives.
• Texas: Two separate bills are under discussion. One proposes allocating 1% of the general revenue fund to Bitcoin, while the other covers Bitcoin donations and crypto payment conversions.

Other Countries Are Also Considering Bitcoin

As some U.S. states explore the legalization of Bitcoin reserves, the topic is gaining traction globally. Countries like Switzerland, Brazil, Japan, and Russia are evaluating the inclusion of Bitcoin in their national reserve strategies.

With the growing debate over the role of cryptocurrencies in public finance, new legislative proposals and regulatory changes are expected in the coming months.

You can also freely share your thoughts and comments about the topic in the comment section. Additionally, don’t forget to follow us on our Telegram, YouTube, and Twitter channels for the latest news and updates.

The post Four U.S. States Reject Bitcoin and Altcoins! appeared first on Coin Engineer.

The Strategic Bitcoin Reserve Act (SB1025), co-sponsored by Senator Wendy Rogers and Representative Jeff Weninger, passed the Arizona State Senate Finance Committee with a 5-to-2 vote on January 27.

The bill now proceeds to the Senate Rules Committee for further debate and amendments. If approved by the Senate, the bill will advance to the House of Representatives.

This legislation proposes the creation of a strategic Bitcoin reserve managed by the U.S. Treasury for safeguarding government Bitcoin holdings. It also allows public funds to store digital assets in a “secure, segregated account within the strategic Bitcoin reserve.”

The bill permits government entities or public funds to allocate up to 10% of their capital to Bitcoin (BTC) and other digital assets. It also opens the door for pension funds to invest in Bitcoin, potentially boosting public interest in cryptocurrencies.

Young Generations Show Preference for Crypto Retirement Plans

A Cointelegraph report dated January 16 revealed that 20% of Gen Z and Alpha generations are open to receiving their pensions in cryptocurrency, with 78% expressing more trust in “alternative retirement savings options” over traditional pension systems.

Arizona’s decision to include Bitcoin in its financial strategy could inspire other states to follow suit. Blockchain expert Anndy Lian stated:

“Imagine if your state decided to allocate a portion of your tax dollars to Bitcoin; this might encourage places like Texas or Pennsylvania, where similar ideas have already been discussed, to act faster.”

You Might Be Interested In: Elon Musk Shared, That Memecoin Flew: Up 500%!

However, Lian warned that a Bitcoin reserve would require safeguards due to cryptocurrency’s volatility, highlighting financial risks taxpayers could face.

Could the Bitcoin Reserve Act Skyrocket BTC Price?

Supported by Wyoming Republican Senator Cynthia Lummis, the Bitcoin Act is one of the most anticipated crypto bills in history, generating excitement among investors.

Nationwide approval of a U.S. Bitcoin reserve could potentially push Bitcoin prices beyond the seven-figure mark. Blockstream CEO Adam Back suggested that this potential has yet to be fully reflected in market valuations.

There are currently at least 13 Bitcoin reserve-related bills in various stages across states like Massachusetts, Pennsylvania, Kansas, New Hampshire, Wyoming, Ohio, Utah, and North Dakota.

Trump’s Pro-Crypto Policies Driving Momentum

Bitcoin reserve proposals are gaining traction across the U.S., fueled by President Donald Trump’s pro-crypto policies and recent executive orders.

Success in passing the bill could attract institutional Bitcoin adopters such as pension and sovereign wealth funds, further legitimizing Bitcoin as an asset class.

You can also freely share your thoughts and comments about the topic in the comment section. Additionally, don’t forget to follow us on our Telegram, YouTube, and Twitter channels for the latest news and updates.

The post Arizona Senate Advances Bitcoin Reserve Bill appeared first on Coin Engineer.