AZ HB2601

Adds definitions for "crowdfunding," "virtual coin," and "virtual coin offering" to Arizona securities law.

Allows intrastate crowdfunding and virtual coin offerings under section 44-1844(A)(22) if issuer is Arizona-authorized, meets federal intrastate offering requirements, obtains resident verification, and complies with filing, escrow, and disclosure requirements.

Limits intrastate offerings to $5 million per 12-month period and restricts individual non-accredited investor purchases to $10,000 unless investor is accredited.

Excludes virtual coins from securities definition if not marketed as investment and purchaser receives platform usage rights or discounts within 90 days of receipt.

Exempts persons who facilitate virtual coin exchanges from dealer/securities requirements if they have good faith belief the coin is not a virtual coin offering and promptly terminate facilitation upon learning otherwise.