Arizona Passes Law Allowing Unclaimed Crypto to Be Held in Native Form

Arizona Governor Katie Hobbs has signed HB 2749 into law, marking a significant update to the state’s unclaimed property regulations. The legislation permits unclaimed digital assets to remain in their original form rather than requiring liquidation, addressing a critical gap in crypto asset management.

The new framework establishes a three-year dormancy period before crypto holdings must be transferred to state custody. A reserve fund will accrue earnings from these assets, with distributions contingent on legislative approval. This approach mirrors traditional unclaimed property protocols while acknowledging crypto’s unique characteristics.

House Commerce Committee Chairman Jeff Weninger spearheaded the bipartisan effort, recognizing the need to modernize Arizona’s financial infrastructure. The law positions Arizona among progressive jurisdictions creating tailored frameworks for digital asset oversight.