Cryptos in Arizona: US state wants to use confiscated Bitcoin and cryptocurrencies to create state strategic fund

• Arizona proposes fund with confiscated cryptocurrencies
• Project awaits decision from Governor Katie Hobbs
• US states adopt cryptocurrencies in public policies

The Arizona House of Representatives has passed Bill SB 1373, which establishes the creation of a statewide strategic fund based on cryptocurrencies. The text now awaits final approval from Governor Katie Hobbs, who has already signaled the possibility of a veto over budgetary issues involving public policies for people with disabilities.

Authored by Senator Mark Finchem, the bill proposes centralized management of digital assets seized in criminal proceedings, placing the state treasurer in charge of managing this portfolio. In addition to the confiscated cryptocurrencies, the fund may also receive additional allocations through new legislation.

The proposal reinforces a strategy to modernize public management in Arizona and could be integrated with other legislative measures aimed at adopting digital assets as a financial policy instrument. Cryptocurrency advocate Julian Fahrer commented on the progress of the agenda, highlighting the possibility of the project receiving adjustments before eventual final approval.

Although it still depends on the decision of the state Executive, the measure already positions Arizona alongside other North American states such as Utah and Texas, which are showing growing interest in cryptocurrency-based solutions in the management of public resources.

The expectation surrounding cryptocurrency regulation in Arizona is attracting attention among analysts. The Coincu team notes that this type of measure could transform the state into a reference in the institutional adoption of digital assets, especially if other complementary policies are adopted to expand the presence of cryptocurrencies in public financial governance.