{"id":128520,"date":"2025-05-03T10:15:37","date_gmt":"2025-05-03T10:15:37","guid":{"rendered":"http:\/\/cryptospotters.net\/?p=128520"},"modified":"2025-05-03T10:15:37","modified_gmt":"2025-05-03T10:15:37","slug":"arizona-governor-vetoes-bill-to-make-bitcoin-part-of-state-reserves","status":"publish","type":"post","link":"http:\/\/cryptospotters.net\/?p=128520","title":{"rendered":"Arizona governor vetoes bill to make Bitcoin part of state reserves"},"content":{"rendered":"<p>Source: Cointelegraph.com NewsArizona Governor Katie Hobbs has vetoed a bill that would have allowed the state to hold Bitcoin as part of its official reserves, effectively ending efforts to make Arizona the first US state to adopt such a policy.<br \/>\nThe 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\u2019s website.<br \/>\n\u201cToday, I vetoed Senate Bill 1025. The Arizona State Retirement System is one of the strongest in the nation because it makes sound and informed investments,\u201d Hobbs wrote in a statement aimed at Warren Petersen, the President of the Arizona Senate.<br \/>\n\u201cArizonans\u2019 retirement funds are not the place for the state to try untested investments like virtual currency,\u201d she added.<br \/>\nOn April 28, the bill passed a final vote in the state House when 31 members of the Arizona House\u00a0voted\u00a0in favor of the bill, with 25 opposing.\u00a0<br \/>\nHobbs had previously stated she would veto any legislation not tied to a bipartisan agreement on disability funding.<br \/>\nSource: Governor Katie HobbsRelated: Bitcoin bros at \u2018the club\u2019 may stop US gov\u2019t from buying BTC \u2014 Arthur Hayes<br \/>\nAnother Bitcoin awaits final vote<br \/>\nA companion bill, SB1373, which would authorize the state treasurer to allocate up to 10% of Arizona\u2019s rainy-day fund into digital assets like Bitcoin, has not yet reached a final vote.<br \/>\nArizona joins several other states where similar efforts have failed. In recent months, similar proposals in Oklahoma, Montana, South Dakota and Wyoming have stalled or been withdrawn.<br \/>\nIn contrast, North Carolina\u2019s House passed the Digital Assets Investment Act on April 30, allowing the state treasurer to invest up to 5% of certain funds in approved cryptocurrencies. The bill has now been moved to the state Senate for consideration.<br \/>\nThe state-level efforts to create Bitcoin reserves come amid a push from US President Donald Trump and Republican lawmakers to do the same in the federal government.\u00a0<br \/>\nTrump\u00a0signed an executive order in March with a proposal for a \u201cStrategic Bitcoin Reserve\u201d and a \u201cDigital Asset Stockpile.\u201d<br \/>\nMagazine:\u00a0Crypto wanted to overthrow banks, and now it\u2019s becoming them in stablecoin fight<a href=\"https:\/\/cointelegraph.com\/news\/arizona-bitcoin-reserve-bill-vetoed-by-governor?utm_source=rss_feed&amp;utm_medium=rss&amp;utm_campaign=rss_partner_inbound\" target=\"_blank\" class=\"feedzy-rss-link-icon\" rel=\"noopener\">Read More<\/a><\/p>","protected":false},"excerpt":{"rendered":"<p>Source: Cointelegraph.com NewsArizona Governor Katie Hobbs has vetoed a bill that would have allowed the state to hold Bitcoin as part of its official reserves, effectively ending efforts to make&hellip; <\/p>\n","protected":false},"author":0,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[5],"tags":[],"_links":{"self":[{"href":"http:\/\/cryptospotters.net\/index.php?rest_route=\/wp\/v2\/posts\/128520"}],"collection":[{"href":"http:\/\/cryptospotters.net\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/cryptospotters.net\/index.php?rest_route=\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"http:\/\/cryptospotters.net\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=128520"}],"version-history":[{"count":0,"href":"http:\/\/cryptospotters.net\/index.php?rest_route=\/wp\/v2\/posts\/128520\/revisions"}],"wp:attachment":[{"href":"http:\/\/cryptospotters.net\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=128520"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/cryptospotters.net\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=128520"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/cryptospotters.net\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=128520"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}