Arizona Bill HB2324 to Hold Seized Crypto Passes Senate 16-14, House 34-22, Vetoed by Governor Hobbs

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Updated Jul 2, 2025, 03:48 AM

Arizona's legislature passed House Bill 2324, known as the Bitcoin Reserve bill, which aimed to establish a state fund holding digital assets seized through criminal forfeiture. The bill passed the Senate with a narrow 16-14 vote after a reconsideration motion and subsequently cleared the House with a 34-22 vote. If signed into law, this would have marked Arizona's second Bitcoin reserve fund, allowing the state treasurer to manage a reserve composed of seized cryptocurrencies. However, Governor Katie Hobbs vetoed the bill, citing concerns that it would discourage local law enforcement agencies from cooperating with the state on digital asset forfeiture by removing seized assets from local jurisdictions. The veto halts the creation of the digital assets reserve fund despite legislative approval.

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The Block

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Arizona governor vetoes bill seeking to create reserve fund from seized crypto

Mario Nawfal

@MarioNawfal

🇺🇸 ARIZONA GOV HOBBS VETOES BILL ON DIGITAL ASSET SEIZURE Governor Katie Hobbs vetoed House Bill 2324, which dealt with digital asset forfeiture and reserve funds. Gov. Hobbs: “This bill disincentivizes local law enforcement from working with the state on digital asset

Cointelegraph

@Cointelegraph

🇺🇸 JUST IN: Arizona Governor Katie Hobbs has vetoed the state’s digital assets reserve fund bill HB2324. She claimed the bill would prevent local law enforcement from cooperating with the state on digital asset forfeiture by removing seized assets from local jurisdictions.