Arizona Governor Vetoes Bitcoin Reserve Bills
- Arizona Governor Katie Hobbs vetoed bills SB 1373 and SB 1024, blocking state-held cryptocurrency reserves.
- SB 1373 would have allowed up to 10% of Arizona’s rainy-day funds in digital assets like Bitcoin.
- Governor Hobbs cited cryptocurrency market volatility as a reason for the veto.
- On May 7, Hobbs signed House Bill 2749, allowing unclaimed digital assets as part of the state’s reserve.
- The crypto community criticized the vetoes, arguing Arizona needs Bitcoin integration.
Governor Katie Hobbs’ decision to veto SB 1373 and SB 1024 was influenced by concerns over cryptocurrency volatility, despite previously signing legislation allowing unclaimed digital assets in state reserves.
Source (2.6)https://coingape.com/breaking-arizona-shuts-down-bitcoin-reserve-bill-proposal-community-reacts/?rand=24432
