, the reconsideration motion passed with narrow support.

🇺🇸 ARIZONA Update:

'Bitcoin Reserve' bill HB2324, which initially failed, has been revived after a 'motion to reconsider'.

The bill would create a fund out of digital assets seized via criminal asset forfeiture.

It passed the Senate today 16-14, and is now in the House. pic.twitter.com/FKmLr8kSmJ

— Bitcoin Laws (@Bitcoin_Laws) June 19, 2025

The vote largely followed party lines, with only a few deviations. Republican Senator Jake Hoffman notably opposed the bill despite party alignment. The legislation must now pass a full vote in the House. A minimum of 31 votes from the 60 House members will be required for the bill to proceed to the Governor.

Although HB 2324 may pass in the House, the bill is not yet in force, as a signature of the Governor is needed. There are precedence cases similar to this as previously put of by Governor Katie Hobbs with SB 1373 and SB 1024. She issued warnings on market fluctuations and danger to government money.

In a veto statement issued in May, Hobbs said, “Current volatility in the cryptocurrency market does not make a prudent fit for general fund dollars.” She added that recent legislation already allows crypto use without exposing state funds to undue risk. It is an indication that the passage of the revived bill can be severely challenged in the last phase.

By passing, the HB 2324 would create by law a Bit-coin and digital assets reserve Fund in the Arizona state. The bill is aiming at the management of digital property confiscated upon criminal investigation and forfeiture. The fund would be a formal vehicle of holding, liquidating, or retaining crypto assets seized.

The bill suggests three ways of management. These are holding them in digital wallets run by the state, selling them through authorized exchanges, or holding them as they are based on security and market dynamics. This leaves Arizona with options for handling assets easily and up to the law.

The initial amount of revenues accrued using the sale of digital assets to the tune of 300,000 dollars would be paid to the Attorney General office in the case of HB 2324. Any remaining amount would go to the Attorney General Office, the state general fund and the Digital Assets Reserve Fund in the ratio 50/25/25 respectively. This structure will offer operating capital and also make sure that there is disclosure of the assets.

The act also has the amendments to asset forfeiture laws of Arizona. It proposes types of digital assets and implements state-of-the-art custodial regime. These will be access controls through blockchain and third-party custodians that comply with the standards. This would bring the practices in the state in line with the industry trends and the legal expectations.

The latest attempt to approve the Bitcoin Reserve Bill by Arizona signifies the increasing popularity of blockchain infrastructure and asset reclamation protocols. The bill will pass or not in the House in the next vote and the next body to get it through is to the Governor to get final approval.