The post Arizona Governor Vetoes Bill to Create State Crypto Reserve Fund appeared on BitcoinEthereumNews.com.

Bitcoin News It would need a two-thirds majority in both houses of Congress to override the governor’s veto. Additionally, Hobbs has vetoed cryptocurrency proposals that had previously passed both houses of the state legislature. A bill that would have allowed the US state of Arizona to hold confiscated cryptocurrency in a fund was vetoed by the governor of that state. House Bill 2324 was vetoed by Arizona Governor Katie Hobbs on Tuesday. Although the measure was defeated by the House on its third reading in May. It was brought back to life by the Senate in a reconsideration vote last month. The House of Representatives subsequently approved the bill on June 24 by a vote of 34 to 22. Untested Investments It would need a two-thirds majority in both houses of Congress to override the governor’s veto. But that seems very unlikely to occur unless a few members change their votes. If passed, the measure would have established a “Bitcoin and Digital Assets Reserve Fund” to oversee the administration of any digital assets seized by the government. The attorney general’s office would get the first $300,000 worth of cryptocurrency in a felony forfeiture, according to the bill. Anything more than that would have gone to the attorney general’s office (AG), the state general fund (25 percent), and the new reserve fund (25 percent). Additionally, Hobbs has vetoed cryptocurrency proposals that had previously passed both houses of the state legislature. Additionally, Hobbs has vetoed cryptocurrency proposals that had previously passed both houses of the state legislature. The Arizona Strategic Bitcoin Reserve and an investment of up to 10% in Bitcoin were proposed in Senate Bill 1025. However she rejected it in May, citing cryptocurrencies as “untested investments.” Another bill that would have enabled the state to establish a treasury using confiscated assets was Senate…

---

Filed under: News - @ July 2, 2025 10:25 pm