Arizona passes HB2324 to create Bitcoin reserve funded by seized crypto, pending governor’s signature

Arizona has passed HB2324, approving a previously rejected proposal to create a Bitcoin reserve funded by seized criminal assets.

Arizona has passed HB2324, a Bitcoin Reserve bill that establishes a state-managed fund for digital assets seized through criminal forfeiture.

The bill updates Arizona’s forfeiture laws to formally include cryptocurrencies and sets rules for law enforcement to securely seize and store them using approved digital wallets. The first $300,000 of seized assets goes to the Attorney General’s office. The rest is split — 50% to the Attorney General, 25% to the state’s general fund, and 25% to the reserve fund.

HB2324 was initially rejected by the House on May 7. However, after a narrow 16–14 Senate vote on June 19, Republican Senator Janae Shamp — who had previously voted against it — filed a motion to reconsider. Following that, the bill returned to the Arizona House of Representatives and passed, clearing the way for it to be sent to Governor Katie Hobbs for signature.

If the Governor signs it, HB2324 will become the second Bitcoin reserve-related bill enacted in Arizona.

The first was HB2749, signed earlier by Governor Hobbs, which created a reserve fund for unclaimed digital assets held by the state. That law allows Arizona to take possession of abandoned cryptocurrencies after three years and manage them through the Department of Revenue, but it does not involve criminal forfeiture or law enforcement seizures.

In contrast, two earlier attempts to establish a Bitcoin reserve — SB1373 and SB1025 — were both vetoed by Governor Hobbs. Those proposals aimed to allow direct state investment in Bitcoin and other cryptocurrencies, a move the Governor rejected due to risk and policy concerns.