Arizona Greelights Bill to Keep Unclaimed Crypto
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Governor Katie Hobbs (D-AZ) enacted House Bill 2749 on Wednesday, modernizing Arizona’s unclaimed property statutes to include digital assets. Sponsored by Rep. Jeff Weninger (R-AZ), the legislation mandates that unclaimed cryptocurrency be retained in-kind by the state rather than liquidated.
Assets are deemed abandoned after three years of inactivity, aligning with existing rules for traditional securities.
Custodians must then remit the holdings to the Arizona Department of Revenue.
The law also establishes a dedicated reserve fund for proceeds like staking rewards, subject to legislative allocation.
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