HB 2324 Summary

• Adds "digital asset" definition to forfeiture law, including virtual currency, cryptocurrency, and other digital-only assets that confer economic or proprietary rights.

• Authorizes seizure of digital assets through private key access, blockchain wallet securing, or transfer to state-approved secure digital wallets.

• Establishes bitcoin and digital assets reserve fund administered by state treasurer to receive forfeited digital assets, with 25% of amounts exceeding $300,000 deposited to the fund.

• Allows state treasurer to invest fund monies in digital assets or exchange-traded funds containing digital assets and to contract with qualified custodians to hold digital assets.

• Updates definitions of "abandoned property," "owner," and "interest holder" to clarify property interests and exemptions in forfeiture proceedings.