Arizona Governor Vetoes Bill to Establish Bitcoin Reserve for State
Arizona will not invest in bitcoin this year after Governor Katie Hobbs vetoed Senate Bill 1025. Key points include:
- The bill aimed to use seized funds for BTC investments and establish a state-managed digital assets reserve.
- It passed the state House with a narrow 31–25 vote before being vetoed by Hobbs.
- Hobbs emphasized that the Arizona State Retirement System prioritizes sound investments, rejecting untested assets like virtual currency.
- The veto halts Arizona's potential to become the first state to create a cryptocurrency reserve, potentially outpacing the U.S. Treasury Department.