Arizona governor vetoes bill to create Bitcoin Reserve from seized assets
2025-07-02 06:27:09
Main Idea
Arizona Governor Katie Hobbs vetoed House Bill 2324, which aimed to create a Bitcoin and Digital Assets Reserve Fund using seized cryptocurrencies, citing concerns over weakening law enforcement efforts.
Key Points
1. HB 2324 proposed establishing a Bitcoin and Digital Assets Reserve Fund funded by cryptocurrencies seized through criminal investigations.
2. Governor Hobbs vetoed the bill, arguing it would remove seized assets from local jurisdictions and weaken enforcement against digital asset-related crimes.
3. This is the third crypto-related bill vetoed by Hobbs this session, including SB 1025 (state investment in Bitcoin) and SB 1373 (Digital Assets Strategic Reserve).
4. Hobbs did sign HB 2749 into law, which creates a reserve for staking rewards managed by the Department of Revenue.
Description
Arizona has vetoed bill HB 2324 to create Bitcoin Reserve funded by criminal forfeiture, marking the third time the state has blocked a digital asset reserve proposal. In a veto letter to House Speaker Steve Montenegro, Arizona Governor Katie Hobbs has blocked House Bill 2324, which aimed to establish a Bitcoin and Digital Assets Reserve Fund funded by cryptocurrencies seized through criminal forfeiture. Initially rejected by the House on May 7, the bill was revived after a narrow 16-14 Senate v...
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