Arizona governor vetoes bill to make Bitcoin part of state reserves

Quick Summary:

The Digital Assets Strategic Reserve bill, which would have permitted Arizona to invest seized funds into Bitcoin (BTC) and create a reserve managed by state officials, was formally struck down on Friday, according to an update on the Arizona State Legislature’s website.“Today, I vetoed Senate Bill 1025.

Source: Governor Katie HobbsRelated: Bitcoin bros at ‘the club’ may stop US gov’t from buying BTC — Arthur HayesAnother Bitcoin awaits final voteA companion bill, SB1373, which would authorize the state treasurer to allocate up to 10% of Arizona’s rainy-day fund into digital assets like Bitcoin, has not yet reached a final vote.

The Arizona State Retirement System is one of the strongest in the nation because it makes sound and informed investments,” Hobbs wrote in a statement aimed at Warren Petersen, the President of the Arizona Senate.“Arizonans’ retirement funds are not the place for the state to try untested investments like virtual currency,” she added.

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Article Details

Author / Journalist: Cointelegraph by Amin Haqshanas

Category: Crypto

Markets: United States

Topics: Arizona Bill Bitcoin Digital Efforts Senate Assets Invest Hobbs State Funds

Source Website Secure: Yes (HTTPS)

News Sentiment: Negative

Fact Checked: Legitimate

Article Type: News Report

Published On: 2025-05-03 @ 10:23:20 (1 days ago)

News Timezone: GMT -5:00

News Source URL: cointelegraph.com

Language: English

Article Length: 376 words

Reading Time: 3 minutes read

Sentences: 14 lines

Sentence Length: 27 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © Coin Telegraph

News ID: 28331188

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