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JUST IN: Governor Katie Hobbs vetoes Arizona’s Strategic Bitcoin Reserve bill, despite its passage in both the state House and Senate. She states: “Arizonans’ retirement funds are not the place for the state to try untested investments like virtual currency.”
🚫 Arizona Governor Katie Hobbs has vetoed a bill that would’ve allowed the state to hold $BTC in its reserves. She called it an “untested investment” and rejected the idea of using retirement funds for crypto exposure.
Unfortunately, Arizona's first $BTC strategic reserve, SB1025, was rejected. Although there is another SB1373, it hasn't been submitted to the governor, so it's probably difficult. Attached is the Governor's note: Speaker Petersen:
🚨BREAKING: Arizona's attempt to establish a Strategic Bitcoin Reserve has failed. Governor Hobbs vetoed the bill, calling Bitcoin an "untested investment."
JUST IN: 🇺🇸 Arizona Governor Katie Hobbs has vetoed the state’s Strategic Bitcoin Reserve legislation after it was passed by the House and Senate. She called Bitcoin an "untested investment".
JUST IN: Governor Katie Hobbs vetoes Arizona’s Strategic Bitcoin Reserve bill, despite its passage in both the state House and Senate. She states: “Arizonans’ retirement funds are not the place for the state to try untested investments like virtual currency.”
Arizona Governor @katiehobbs vetoes the State Strategic Bitcoin Reserve
🚫 Arizona Governor Katie Hobbs has vetoed a bill that would’ve allowed the state to hold $BTC in its reserves. She called it an “untested investment” and rejected the idea of using retirement funds for crypto exposure.
