Arizona,Oregon,Advance,Crypto,Adoption,Through,New,Legislation

Arizona and Oregon have made significant strides in embracing Bitcoin and digital assets through new legislative measures, marking a growing acceptance of cryptocurrencies at the state level.

Arizona has established a state-run Bitcoin and Digital Asset Reserve Fund following the passage of House Bill 2749, signed into law by Governor Katie Hobbs on May 7. This legislation allows the state to claim ownership of abandoned digital assets after three years of inactivity. Once under state custody, these assets can be staked or used to receive airdrops, with the proceeds deposited into the reserve. Jeff Weninger, Chair of the House Commerce Committee, emphasized that the measure aims to capture value from forgotten digital currencies while respecting ownership rights and adapting to financial innovation. He stated, “Digital assets aren’t the future—they’re the present…We’ve built a structure that protects property rights, respects ownership, and gives the state tools to account for a new category of value in the economy. It’s exactly the kind of policy we should be leading on—modern, precise, and built with an understanding of where technology and finance are heading.”

The passage of House Bill 2749 has also increased optimism among crypto advocates, particularly as Senate Bill 1373 awaits the governor’s decision. Senate Bill 1373 would permit the state treasurer to allocate up to 10% of Arizona’s Budget Stabilization Fund into Bitcoin, creating a strategic hedge for state finances. However, Governor Hobbs recently vetoed a separate measure, Senate Bill 1025, which would have allowed the state to invest seized funds into Bitcoin, citing concerns over exposing public money to volatile and untested assets. State Senator Wendy Rogers has vowed to reintroduce the proposal in a future session.

Oregon has also taken a significant step toward normalizing crypto in financial markets through Senate Bill 167. This legislation updates the state’s Uniform Commercial Code to classify digital assets like Bitcoin as acceptable collateral in secured lending. The law also acknowledges the validity of electronic records, signatures, and blended transactions, creating a more straightforward pathway for blockchain-based commerce. Market experts say this update reduces uncertainty for institutions using crypto in loans and credit arrangements, boosting crypto adoption in Oregon’s financial ecosystem and encouraging the development of asset-backed lending products.