Arizona Gov. Katie Hobbs signed House Bill 2749 into law on Wednesday, establishing a state-managed Bitcoin and Digital Assets Reserve Fund that will hold unclaimed digital assets and staking rewards.

This bill allows Arizona to claim ownership of abandoned digital assets if the owner fails to respond to communications within three years.

With the signing, Arizona becomes the second state in the U.S. to create a formal framework for holding digital assets.

Bitcoin, the cryptocurrency that emerged from the 2008 financial crisis, uses blockchain technology to support transactions between users.