- Oregon’s SB 167 gives cryptocurrencies full legal status as collateral under UCC, advancing clarity for secured digital transactions.
- Arizona’s HB 2749 creates a state-run crypto reserve using unclaimed assets, airdrops, and staking, without using public funds.
- Texas and New Hampshire accelerate Bitcoin legislation as states formalize crypto reserves under secure, legal state frameworks.
Oregon has officially signed Senate Bill 167 into law, establishing clear legal standards for digital assets under the commercial code. The bill brings cryptocurrencies into the fold of secured transactions, signaling a major policy shift for state-level digital asset regulation.
Oregon Defines Collateral Rules for Digital Assets
Oregon became the first U.S. state in 2025 to enact major Uniform Commercial Code (UCC) reforms centered on cryptocurrencies. In a post by Bitcoin Laws, SB 167 was described as “a huge win,” offering full legal clarity for crypto used as collateral. The bill formally passed all six legislative stages before the governor’s approval on May 7. It updates Articles 9 and 12 of the UCC, establishing legal rights, prioritization rules, and custody terms for digital assets.
The updated Article 12 introduces the term “controllable electronic records” (CERs) to include cryptocurrencies and tokenized assets. It grants enforceable rights to those with cryptographic control over CERs, legitimizing ownership and transfer.
Amendments to Article 9 expand collateral definitions to include controllable accounts and payment intangibles. This supports digital asset-backed lending while aligning secured lending rules with crypto market behavior.
Bill Structure Includes Custody, Collateral, and Implementation
Senate Bill 167 introduces a modern legal infrastructure for decentralized assets across custody, perfection, and collateral management. The bill ensures that digital records gain legal standing through control-based access models.
The structure includes references to smart contracts, control keys, and staking mechanisms as tools for collateral enforcement. Institutions can now reference these assets under recognized secured transaction law in financial contracts.
Custody responsibilities fall within standard commercial frameworks, enabling traditional custodians to hold and manage crypto legally. The law also provides a one-year transition period for legacy systems to comply with the revised rules.
Legal recognition of CERs allows parties to assign rights via cryptographic control rather than physical possession. This enables smoother dispute resolution and increased institutional confidence in token-based instruments.
Arizona Scales Down Investment Plan, Others Push Forward
Besides Oregon, multiple states are advancing digital asset legislation focused on custody, reserves, and strategic investment authority. Days after vetoing SB 1025, which would have let Arizona invest public funds and seize crypto into Bitcoin, Governor Katie Hobbs signed HB 2749, a scaled-down version.
HB 2749 funds Arizona’s Bitcoin and Digital Asset Reserve using unclaimed crypto, staking rewards, and airdrops, not taxpayer money. The law permits custodians to stake assets and manage proceeds under state oversight, creating a crypto reserve without speculative investment.
Texas Senate Bill 21 has cleared its committee stages and is positioned for a final floor vote. The bill seeks to establish a Bitcoin reserve within the state treasury, tracking similar momentum in Arizona.
New Hampshire leads nationally, having already enacted House Bill 302. It authorizes the state treasury to invest in cryptocurrencies with a market cap over $500 billion, currently limited to Bitcoin. These legislative actions reflect a broader institutional pivot toward formally integrating crypto into state financial infrastructure under compliant, rules-based frameworks.
