SB 1649 Arizona Senate · 57th Legislature - Second Regular Session

digital assets strategic reserve fund

SB 1649 establishes Arizona's Digital Assets Strategic Reserve Fund to hold digital assets the state confiscates or receives (like Bitcoin, XRP, or NFTs). It requires holders of abandoned digital assets to deliver them in "native form" to the state within 30 days, with staking rewards or airdrops from unclaimed assets after three years flowing into the fund. The bill mandates strict security standards for storing these assets, including hardware-based keys in two secure data centers, regular audits, and no smartphone access. This directly affects state agencies managing seized digital assets and businesses holding abandoned digital property under Arizona's abandoned property laws.

Bill status failed 3 of 5 stages cleared

Introduction

Feb 2026

Committee Review

Mar 2026

Senate Passage

Mar 2026

House Failed

Jun 2026

Governor

Introduced Feb 3, 2026 Last action Jun 9, 2026

Maddy AI version diff · 1 comparison

What changed between versions

Introduced Version → Senate Engrossed Version (03/09/2026) · 6 edits · Mar 9, 2026

MODERATE

The bill was amended to expand the Digital Assets Strategic Reserve Fund by changing the source of assets from only 'seized' items to include assets 'held' by the state, and by adding a specific list of approved cryptocurrencies (Dash, EGLD, Internet Computer, Near, Ravencoin, Chia, Ecash, Monero, Nano) to the fund's investment criteria. Additionally, the bill now amends the abandoned property statute to require holders of unclaimed digital assets to deliver them to the state or a qualified custodian, with a provision for staking rewards to eventually flow into the reserve fund.

Scope change

The bill's scope expanded from a narrow focus on seized digital assets to include any digital assets held by the state, and it now explicitly applies to the handling of unclaimed digital assets under the abandoned property laws.

FISCAL

Changed the source of digital assets for the reserve fund from those 'seized' by the state to those 'held' by the state, broadening the pool of available assets.

Established a mechanism where staking rewards and airdrops generated by state-held unclaimed digital assets after three years are transferred to the Digital Assets Strategic Reserve Fund.

ELIGIBILITY

Added a specific list of nine new cryptocurrencies (Dash, EGLD, Internet Computer, Near, Ravencoin, Chia, Ecash, Monero, Nano) to the criteria for assets eligible for the reserve fund.

REQUIREMENT

Amended the abandoned property statute to require holders of unclaimed digital assets to report and deliver them to the state or a designated custodian within 30 days.

DEFINITION

Updated the definition of 'qualified custodian' to include technology providers of secure custody solutions, alongside traditional banks and trust companies.

Revised the 'fair value score' metrics for digital assets, replacing 'market capitalization' with 'adoption by coin owners' and 'network activity' with 'annual transactions'.

Floor votes · House Jun 9, 2026

How they voted

This bill passed the Senate by voice vote (no roll call recorded).

Full legislative history

Actions timeline

Total actions

Key actions

Committee

Amendments

Jun 9, 2026

Vote failed

House Vote: fail (22-31-6)

house

Apr 15, 2026

Lower · Passed

lower

Mar 24, 2026

Lower · Passed

lower

Mar 9, 2026

Upper · Passed

PASSED

upper

Mar 3, 2026

Upper · Passed

DPA

upper

Feb 16, 2026

Upper · Passed

upper

1 primary · 0 co-sponsors