Arizona Passes Legislation for Potential Crypto Reserve Amid Political Uncertainty

Arizona has made progress in establishing a crypto reserve as part of its fiscal strategy, with legislation approved by the House of Representatives, supported mainly by Republican lawmakers. Key points include:

Legislation passed with a 31-25 vote; three Democrats supported it.
Governor Katie Hobbs' stance remains uncertain, as she has vetoed multiple bills this session.
If approved, Arizona could implement digital assets in public funds ahead of the U.S. Treasury's efforts.
Other states, like New Hampshire, are also considering similar measures.
Hobbs previously indicated that any new bills would be vetoed until a bipartisan budget solution is reached.

A recent bipartisan funding bill may have influenced her position on future legislation.