Governor Hobbs Vetoes Arizona’s Bitcoin Reserve Bill: Report
By: bitcoin ethereum news|2025/05/03 14:30:02
0
Share
Governor Hobbs vetoed Arizona’s bill to hold Bitcoin in the state’s official reserves. Critics warned that Bitcoin’s volatility posed a financial risk to Arizona’s stability. Despite setbacks, over 35 digital asset reserve bills remain active across the U.S. Arizona failed to lead U.S. states by establishing official Bitcoin holdings as part of its reserve assets. Governor Katie Hobbs vetoed the Digital Assets Strategic Reserve bill because she considered Bitcoin an untested investment. The state House approved this bill on April 28 to permit state officials to use seized funds for Bitcoin investments. The proposed legislation created a management system for the Bitcoin reserve under state administrators. According to an under-development measure, the state treasurer could get authority to put 10% of Arizona’s rainy-day funds into digital assets. A companion bill still requires approval before it can become official legislation. Advocates of the bill contended that Arizona would set an example in digital asset regulations through its adoption. The initiative received support due to Bitcoin’s rising international government adoption and institutional Bitcoin investments. Supporters of the bill envisioned Arizona becoming a benchmark entity regarding digital financial systems. Related: Arizona Lawmakers Pass Bitcoin Treasury Bills as Budget Deadlock Threatens Veto Opponents raised concerns regarding Bitcoin’s highly unpredictable market movements. They asserted that the state’s financial peace would be at risk based on risking public money within volatile digital assets. According to critics, the intense price movement of Bitcoin posed a threat to Arizona’s financial stability. States Struggling with Bitcoin Reserves The state of Arizona has joined a growing number of states that have failed attempts to establish Bitcoin reserve funds. Oklahoma’s Bitcoin reserve initiative was rejected in March last month, while Montana, North Dakota, and Wyoming all faced challenging support earlier this year. States across the nation remain active in their efforts to develop cryptocurrency regulations. The North Carolina House adopted the Digital Assets Investment Act, which permits the state treasurer to invest up to 5% of qualified funds into specific cryptocurrencies. The Senate is currently assessing this bill. Related: Arizona House Committee Greenlights Bitcoin Reserve Bill The failed proposal in Arizona does not halt the ongoing digital asset reserve efforts throughout various states across the United States. A total of 35 bills related to digital reserves exist throughout 20 states, while more support this approach. The proposed cryptocurrency legislation has not managed to pass into state law. The state reserve decision made by Arizona exposes the difficulties Bitcoin reserve supporters face in their advocacy. Disclaimer: The information presented in this article is for informational and educational purposes only. The article does not constitute financial advice or advice of any kind. Coin Edition is not responsible for any losses incurred as a result of the utilization of content, products, or services mentioned. Readers are advised to exercise caution before taking any action related to the company. Source: https://coinedition.com/governor-hobbs-vetoes-arizonas-bitcoin-reserve-bill-for-the-state/
You may also like
WEEX P2P now supports BDT & LKR—Merchant Recruitment Now Open
To make crypto deposits easier, WEEX has officially launched its P2P trading platform and continues to expand fiat support. We're excited to announce that the Bangladeshi Taka (BDT) and Sri Lankan Rupee (LKR) are now available on WEEX P2P!
Morning News | SK Hynix officially launches the marketing promotion process for its U.S. stock listing; the Central Cyberspace Administration announces the results of the first phase of rectifying AI application chaos, with over 14,000 non-compliant pr...
July 6 Market Important Events Overview
Can Open USD support Stripe's ambitions?
Stripe collaborates with multiple parties to launch OUSD, not only challenging the dominance of USDC but also exposing its trillion-dollar ambition to transition from a "payment interface" to a "next-generation funds settlement network."
Blockchain Capital Partner: AI is rewriting the fundamental unit of labor
The rise of AI is rewriting the basic unit of labor from "positions" and "companies" to "tasks." When programmable labor meets programmable currency, a production line without companies, salary systems, or HR becomes possible for the first time.
The cryptocurrency industry has become a traditional industry
For entrepreneurs and retail investors still in this industry, they should either embrace the current changes or explore the next unpredictable field in cryptocurrency.
Chip frenzy cooling down? Morgan Stanley's Wilson: Funds are shifting towards AI supercomputing giants like Microsoft and Amazon
Morgan Stanley's chief equity strategist Wilson pointed out that the momentum in the semiconductor sector is waning, with the Philadelphia Semiconductor Index having dropped nearly 14% from its peak. Funds are shifting towards AI supercomputing giants like Microsoft, Amazon, and Meta, as well as sec...
Morning Report | Vitalik outlines Ethereum's long-term roadmap, Lean Ethereum will become the third major iteration; SK Hynix seeks to attract more AI investors by listing in the U.S
July 5 Market Important Events Overview
Trump, the best stock trader among U.S. presidents
Trump has almost turned the presidency into a business and maximized the conversion of presidential influence into commercial profits.
From ByteDance to Financial Freedom: How did "Byte Brother" Leto develop his investment judgment skills to achieve a turnaround of 30 million?
Speak with data and signals, validate judgments with A/B tests, and seek asymmetric returns with limited risk exposure.
Selling coins despite a loss of 55 million dollars, the faith in Strategy has reached the interest payment date
The moment faith was securitized, Bitcoin became a bill.
OUSD False Cooperation Controversy? The Credit Game of Stablecoins and Endorsements by Giants
The success of stablecoins does not rely on rallying a group of alliance members for marketing, but rather on whether they have real use cases and genuine users.
Q-Day Countdown: Will Quantum Computing End Cryptocurrency?
In the face of dormant coins being plundered by quantum computing power, should we firmly uphold the unalterable bottom line of "code is law," or should we enforce a soft fork to freeze legacy assets?
The ten years of Cloud on the Air: From corner coffee to global financial infrastructure
How did a remittance company grow into a financial infrastructure that can replace SWIFT; when it really reaches this scale, how should stablecoins be positioned for it; and what can AI integrate into this infrastructure?
$10,000 in TRUMP Token vs. $10,000 in Nasdaq: The "Trump Trade" That Actually Worked in 2026
TRUMP Token lost more than 96% after its launch, while Nasdaq stocks and NVIDIA delivered strong gains. Compare what happened to a $10,000 investment and explore why asset fundamentals matter more than market hype.
The impact of OUSD on Circle, Tether, and Paxos: not a single negative factor, but a more complex reshaping of competition
OUSD will not be the last new competitor; Circle needs to respond more actively in terms of products, distribution, and ecosystem collaboration.
Li Feifei's latest long article: When video generation, robots, and NVIDIA all claim to be world models, we need a taxonomy
Language gives machines a way to talk about the world. The world model is the means by which machines ultimately understand, imagine, reason, and interact with it.
Blaming the desolation of the cryptocurrency world on the rise of AI is a form of intellectual laziness
The emergence of giants signifies a mature business model. Although it will reduce speculative space, there is also enough room for error, allowing for the continuous emergence of new forces.
Strategy Founder: The Next 10 Years of Bitcoin
In the next decade, the biggest evolution of Bitcoin is precisely "responding to change with invariance." The four-year cycle is giving way to capital flows such as ETFs, corporate and sovereign reserves, and bank credit, while digital credit and digital currency will grow layer upon layer on top of...
WEEX P2P now supports BDT & LKR—Merchant Recruitment Now Open
To make crypto deposits easier, WEEX has officially launched its P2P trading platform and continues to expand fiat support. We're excited to announce that the Bangladeshi Taka (BDT) and Sri Lankan Rupee (LKR) are now available on WEEX P2P!
Morning News | SK Hynix officially launches the marketing promotion process for its U.S. stock listing; the Central Cyberspace Administration announces the results of the first phase of rectifying AI application chaos, with over 14,000 non-compliant pr...
July 6 Market Important Events Overview
Can Open USD support Stripe's ambitions?
Stripe collaborates with multiple parties to launch OUSD, not only challenging the dominance of USDC but also exposing its trillion-dollar ambition to transition from a "payment interface" to a "next-generation funds settlement network."
Blockchain Capital Partner: AI is rewriting the fundamental unit of labor
The rise of AI is rewriting the basic unit of labor from "positions" and "companies" to "tasks." When programmable labor meets programmable currency, a production line without companies, salary systems, or HR becomes possible for the first time.
The cryptocurrency industry has become a traditional industry
For entrepreneurs and retail investors still in this industry, they should either embrace the current changes or explore the next unpredictable field in cryptocurrency.
Chip frenzy cooling down? Morgan Stanley's Wilson: Funds are shifting towards AI supercomputing giants like Microsoft and Amazon
Morgan Stanley's chief equity strategist Wilson pointed out that the momentum in the semiconductor sector is waning, with the Philadelphia Semiconductor Index having dropped nearly 14% from its peak. Funds are shifting towards AI supercomputing giants like Microsoft, Amazon, and Meta, as well as sec...
Customer Support:@weikecs
Business Cooperation:@weikecs
Quant Trading & MM:[email protected]
VIP Program:[email protected]
