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Posted: 2025-05-08 05:51:30 UTC
This article contains some claims that remain unverified. While much of the content may be accurate, exercise care when relying on this information.
This article contains some claims that remain unverified. While much of the content may be accurate, exercise care when relying on this information.
Status
Last Updated
2025-05-08 05:51:46 UTC
Verified By
Rollup News
Arizona has become the second U.S. state to establish a state-backed cryptocurrency reserve by signing House Bill 2749 into law, enabling the state to manage and secure digital assets like Bitcoin. The law focuses on utilizing unclaimed digital assets for staking and generating returns, with the aim of leading the country in digital asset management.
Arizona creates a state cryptocurrency reserve.
HB 2749 allows for the management of digital assets through staking and airdrops.
Unclaimed digital assets will be used to generate returns for the state.
The initiative aims to position Arizona as a leader in securing and benefiting from digital currency.
Previous attempts by other states to create crypto reserves have failed.
Florida's proposal to invest in Bitcoin collapsed.
Similar failures occurred in Oklahoma and South Dakota.