Arizona Governor Vetoes Crypto Seizure Reserve Bill, Citing Law Enforcement Concerns
2025-07-02 06:44:49
Main Idea
Arizona Governor Katie Hobbs vetoed House Bill 2324, which aimed to give the state control over seized crypto assets from criminal activity, citing concerns from law enforcement.
Key Points
1. Arizona Governor Katie Hobbs vetoed House Bill 2324, a measure targeting state control over seized crypto assets from criminal activity.
2. The Arizona House narrowly passed HB 2324 in a 34-22 vote before the veto.
3. Earlier in May, Arizona approved HB 2749, a separate law focusing on handling unclaimed crypto presumed abandoned.
4. Arizona lawmakers are still considering other crypto-related proposals, such as SB 1062, which would recognize cryptocurrencies as legal tender.
5. Florida recently dropped similar crypto legislation, while Texas and New Hampshire are advancing their own crypto-related initiatives.
Description
Arizona Governor Katie Hobbs has vetoed House Bill 2324, a measure aimed at creating a reserve fund to manage crypto assets seized through criminal forfeiture. Key Takeaways: Arizona Governor vetoed a bill that would have created a reserve fund for seized crypto assets. The proposal aimed to give the State Treasurer authority to invest or trade seized crypto. Texas moved ahead with its own Bitcoin reserve fund. In a letter released Tuesday , Hobbs argued the bill would discourage local law enfor...
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