Arizona Bitcoin Reserve Bill Fails As Governor Vetoes Proposal

Arizona Governor Katie Hobbs has vetoed Senate Bill 1025, which would have authorized the state to create a Bitcoin reserve. The decision, made on May 2, marks the first time a sitting US governor has rejected a state-backed strategic Bitcoin reserve (SBR) initiative, despite growing interest in such measures across several states. Arizona’s Bitcoin Reserve Bill Vetoed Despite Bipartisan Support In a letter to Senate President Warren Petersen, Hobbs emphasized that the Arizona State Retirement System (ASRS) must continue to prioritize stable, well-vetted investments. She described virtual currencies as “untested” and unsuitable for the retirement savings of Arizona residents source: https://beincrypto.com/arizona-bitcoin-reserve-bill-fails-governor-vetoes/