Will the ruler approve it?

The Arizona 2324 house law was revived, which aims to create a bitcoin asset assets and digital assets, and successful in the Senate vote.

The legislation seeks to establish a state -based digital asset reserve with funding from the confiscated criminal assets. It is now moving to the House of Representatives for more deliberations.

Arizona reconsides the bitcoin reserve bill

The House 2324 Bill was presented for the first time in February, when actor Jeff Winninger worked as a major sponsor. The draft law passed through both rooms. However, it failed to vote in the House of Representatives during its third reading on May 7.

However, a series of procedural proposals to review both councils revived the draft law. I have now advanced, with the Senate 16-14 vote in favor of the procedure.

HB 2324 seeks to expand Arizona’s confiscation laws to include digital assets. Provides a legal framework for their illness, storage and sale.

One of the main ruling on the bill is to create a Bitcoin and Digital Assets Reserve Fund. This will safely manage the confiscated digital assets.

The state treasurer will manage this fund. Moreover, the treasurer will be able to invest in digital assets or funds circulating on the stock exchange (ETFS) related to digital assets. The draft law also states that the first $ 300,000 of revenue will go to the Public Prosecutor’s Office.

Any remaining value will be divided as follows: 50 % to the Public Prosecutor’s Office, 25 % to the state’s general fund, and 25 % for bitcoin reserves and digital assets. Moreover, the draft law provides protection for innocent real estate owners (including digital assets) by allowing them to claim their property if they are not aware of their relationship to criminal activity.

“The digital origin may remain in its original form. The digital origin that is seized according to this separation must be stored in a system of digital portfolio accredited by the state and a safe manner managed by the accredited employees to prevent loss, theft or unauthorized access.” invoice Read.

To cleanse the House of Representatives, HB 2324 requires the majority of 60 members, 33 of whom are Republicans. If it is passed, the draft law will be sent to the Governor’s office, Katie Hobbes, to agree.

It is important to note that the governor has achieved the right to veto the two digital asset reserve projects and one invoice related to the encrypted currency payments in the past.

Beincrypto reported that the Hoppers Hobbes achieved the Senate Bill 1025 in May. This legislation allowed the state to create a bitcoin reserve. I made a similar decision for SB 1024 and SB 1373.

SB 1024 sought to allow state agencies to accept the encoded currency as payment for fines, taxes and fees. On the other hand, SB 1373 suggested creating a strategic backup box for digital assets funded from customized funds and confiscated digital assets.

The ruler of the ruler was that SB 1373 refused to have already signed HB 2749. The House of Representatives Bill enables the state to claim the ownership of abandoned digital assets if the owner did not respond to communications within three years.

Thus, even if the HB 2324 wipes the house, his chances of obtaining the ruler’s approval appears to be minimal. However, only time will determine whether this revival bill will survive or end in the same path as its predecessors.