While the interstate Bitcoin reserve race continues in the USA, good news came from Arizona.

Accordingly, the governor of Arizona signed a bill that provides for the creation of a reserve fund for Bitcoin and cryptocurrencies.

Arizona Governor Katie Hobbs has signed a bill into law that allows a U.S. state to hold Bitcoin and cryptocurrencies and establish a “Bitcoin Reserve Fund” that will not use taxpayer money or state funds.

The announcement was made via a press release on the governor’s official website. The move follows actions by New Hampshire, where he recently signed a law allowing state funds to invest in Bitcoin and other digital assets.

According to the bill that was approved, the state of Arizona will be able to establish a Bitcoin reserve fund without creating a tax burden by evaluating abandoned cryptocurrencies. No taxpayer money or public resources will be used in the creation of the Bitcoin fund.

Under a new Arizona law, a cryptocurrency will be considered abandoned if its owner does not respond to messages within three years and will then be turned over to the Internal Revenue Service.

These abandoned cryptocurrencies can be actively used to earn rewards through staking and airdrops in the future. The income generated will be transferred to Arizona's “Bitcoin and Digital Asset Reserve Fund.”

As is known, after the postponement of two bills in Florida earlier this week that would allow public funds to be invested in Bitcoin, New Hampshire signed a first in the US and approved a bill allowing crypto investments.

*This is not investment advice.

Continue Reading: After New Hampshire, Which Signed a First, Bitcoin (BTC) Good News Came From Another State!