US State Oregon Governor Tina Kotek signed Senate Bill 167 into law to integrate digital assets such as crypto, tokenized records, and electronic money into Oregon’s version of the Uniform Commercial Code (UCC). It specifically adds article 12, a legal framework that lawfully clarifies the bounds these digital assets can be used in commercial transactions.
According to state records released on Wednesday, the bill also amends UCC Article 9 to allow digital assets to be used as collateral in secured transactions for lenders and borrowers. It updates various sections of the UCC to legally recognize electronic records and signatures, and hybrid transactions that blend traditional and digital elements.
Transactions conducted before the bill’s effective date will remain valid, and a one-year grace period has been established for parties to align security interests with the updated legal standards.
Oregon upholds crypto ambitions with SB167, awaits HB2071
SB167 will reportedly help regulators outline how rights in digital assets can be legally controlled, perfected, and enforced. In addition to SB167, Oregon lawmakers have introduced House Bill 2071, a separate crypto-focused proposal that seeks to promote and protect blockchain innovation in the state.
HB2071 could limit regulatory interference in blockchain transactions, including provisions to prohibit state and local governments from restricting an individual’s ability to accept digital assets as payment for lawful goods and services. It also upholds the right to engage in peer-to-peer blockchain transactions without government interference.
As reported by Cryptopolitan on Wednesday, Governor Katie Hobbs signed House Bill 2749 into law to authorize the establishment of a state-managed reserve fund to hold unclaimed digital assets. The new law updates Arizona’s unclaimed property statutes to account for digital asset holdings. Under the revised framework, the reserve will store unclaimed cryptos, airdrops, and staking rewards.
Arizona now becomes the second US state to formally establish a framework for holding digital assets, after New Hampshire.
New Hampshire first to invest public funds in crypto
One day before Arizona’s move, New Hampshire Governor Kelly Ayotte signed a bill allowing the investment of a portion of the state’s public funds in crypto and precious metals.
The legislation permits up to 5% of public funds to be allocated to digital assets that have a market capitalization of at least $500 billion. Currently, Bitcoin (BTC) is the only cryptocurrency that meets this criterion.
Governor Ayotte, a Republican in her first year in office, posted on X that New Hampshire was “once again first in the Nation.”
New Hampshire is once again First in the Nation! 🎉
Just signed a new law allowing our state to invest in cryptocurrency and precious metals. pic.twitter.com/ua9bawZKbM
— Governor Kelly Ayotte (@KellyAyotte) May 6, 2025
Dennis Porter, founder of the Satoshi Action Fund that has been lobbying lawmakers in New Hampshire to pass the bill, said it is a “major breakthrough in state-level digital asset policy.”
“We’re incredibly excited about the win that has occurred in New Hampshire. The first one’s the hardest, by far,” he said. “Having a state that’s already gotten it done, it’ll really increase the political momentum.”
Porter hopes other states will follow New Hampshire’s lead.
Senate democrats push to delay vote on stablecoin bill
Elsewhere, policymakers in Washington are entangled in negotiations over the GENIUS Act, a federal bill meant to create a regulatory framework for stablecoins.
According to sources cited by Axios, Senate Democrats have asked GOP members to postpone a procedural vote on the bill slated for Thursday to allow more time for negotiations.
Late Wednesday, Senate Republicans met to review proposed amendments from Democrats, but no final agreement was reached.
A Democratic aide involved in the discussions told Axios that progress had been made, but not all liberals were sure which amendments they could accept.
Among the proposed changes is prohibiting public officials, including the president and vice president, from profiting from the issuance of stablecoins. The language was reportedly drafted by Senators Adam Schiff (D-Calif.), Ruben Gallego (D-Ariz.), and Mark Warner (D-Va.).
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