Arizona and Oregon adopt comprehensive new legislation supporting Bitcoin.

Two states in the US have made noteworthy advancements in incorporating Bitcoin and digital assets into their public policy frameworks.

On May 7, Arizona and Oregon enacted new legislation indicating a growing acceptance of cryptocurrency at the state level.

### Arizona Establishes Digital Asset Reserve

Arizona has established a state-operated Bitcoin and Digital Asset Reserve Fund as a result of House Bill 2749. The legislation was signed into law by Governor Katie Hobbs on May 7.

The new law permits the state to assume ownership of inactive digital assets after a period of three years. Once these assets are under the state’s control, they may be staked or utilized for receiving airdrops, with any resulting earnings directed into the reserve.

Jeff Weninger, Chair of the House Commerce Committee, stated that the legislation aims to allow Arizona to benefit from overlooked digital currencies. He mentioned that the law honors ownership rights while facilitating the state’s adaptation to evolving financial technologies.

He expressed:

“Digital assets aren’t just a future concept—they’re a current reality… We’ve established a framework that safeguards property rights, acknowledges ownership, and equips the state with the means to recognize a new form of value in our economy. This is the type of progressive policy we should champion—modern, precise, and considerate of technological and financial advancements.”

In parallel, the approval of House Bill 2749 has heightened enthusiasm among cryptocurrency supporters, especially with Senate Bill 1373 pending a decision from the governor.

The crypto advocacy group Bitcoin Laws remarked:

“This is significant because SB 1373, a key Strategic Reserve bill in Arizona, is currently awaiting the governor’s signature or veto.”

SB 1373 would authorize the state treasurer to invest up to 10% of Arizona’s Budget Stabilization Fund into Bitcoin. Advocates argue this move would provide a strategic buffer for state finances.

Despite these developments, not all Bitcoin-related initiatives have been successful in Arizona. Governor Hobbs recently vetoed another proposal, Senate Bill 1025, which would have allowed the state to invest seized funds in Bitcoin.

She expressed concerns regarding the risks of investing public funds in unpredictable and unproven assets. Nonetheless, State Senator Wendy Rogers has pledged to reintroduce this proposal in a future legislative session.

### Oregon Acknowledges Crypto as Collateral

Oregon has also made strides in normalizing cryptocurrency within financial sectors.

With the passage of Senate Bill 167, the state has revised its Uniform Commercial Code to recognize digital assets such as Bitcoin as valid collateral for secured loans.

The law also affirms the legitimacy of electronic records and signatures, streamlining processes for transactions involving blockchain technology.

Industry experts suggest that this change diminishes uncertainty for institutions engaging in loan and credit arrangements involving cryptocurrencies. They further believe that this legislative action will enhance the adoption of crypto financial products and encourage the rise of asset-backed lending solutions in Oregon’s financial landscape.