Arizona governor signs law for state to keep unclaimed crypto

Arizona has taken a significant step in digital asset regulation as Governor Katie Hobbs signed House Bill 2749 into law on May 7, 2025, allowing the state to claim and manage unclaimed cryptocurrencies.

Under this new law, Arizona can take ownership of digital assets-including cryptocurrencies-that have gone unclaimed for at least three years, provided the owner does not respond to state communications during that period.

A key feature of the legislation is the establishment of a Bitcoin and Digital Asset Reserve Fund. Unlike traditional reserves, this fund will not use taxpayer money or state funds for investment. Instead, it will accumulate value from unclaimed digital assets, as well as from airdrops associated with those assets etc.

The assets will be held in their original, native form, and the state’s custodians are authorized to hold crypto, all while respecting property rights and ensuring a secure management process.

Jeff Weninger, the bill’s sponsor and Chairman of the House Commerce Committee, emphasized that the law is designed to ensure Arizona does not leave potential value “sitting on the table” and positions the state as a leader in managing and benefiting from abandoned digital currency.

The legislation updates Arizona’s unclaimed property laws to reflect the growing presence of digital assets in the modern economy, creating a clear framework for their identification, custody, and potential future use with legislative approval.

This move comes shortly after Governor Hobbs vetoed a separate bill that would have allowed the state to invest public funds in cryptocurrencies, citing concerns about the volatility and risk of such investments.

However, with HB 2749, Arizona joins a small but growing group of states, including New Hampshire, in formalizing how they handle unclaimed crypto, signaling a new era in state-level digital asset management.

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