Arizona Governor Yet Again Rejects Bitcoin Reserve Using Seized Crypto
2025-07-02 06:28:00
Main Idea
Arizona Governor Katie Hobbs vetoed a Bitcoin-related bill but signed another allowing the state to retain unclaimed digital assets, reflecting mixed regulatory stances on cryptocurrency.
Key Points
1. Arizona Governor Katie Hobbs vetoed Senate Bill 1025, the 'Arizona Strategic Bitcoin Reserve Act,' which aimed to allow state funds to be invested in Bitcoin.
2. Hobbs signed House Bill 2749, permitting the state to retain unclaimed digital assets in their original form, modernizing Arizona’s unclaimed property laws.
3. This marks Hobbs' third rejection of Bitcoin-related legislation, contrasting with other states like Texas and New Hampshire that have adopted Bitcoin reserves.
4. The vetoed bill had passed the Arizona House of Representatives in a 34-22 vote after initially failing in May.
5. Hobbs' actions highlight Arizona's cautious approach to cryptocurrency regulation despite growing adoption in other states.
Description
Mounting crypto-related vetoes point to the state's cautious approach, but a future governor could hold an opposing view, Decrypt was told.
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