In brief
- Arizona Governor Katie Hobbs vetoed the bill, saying it “disincentivizes local law enforcement from working with the state.”
- The bill’s rejection marks Hobbs’ third Bitcoin legislation-related veto this year, as she maintains concerns over exposing state funds to volatile markets.
- One expert says Arizona’s long-term prospects to adopt Bitcoin “don’t necessarily change,” as future leadership is still able to steer a crypto-friendly course.
Arizona Governor Katie Hobbs has knocked back another attempt to establish a state-managed Bitcoin reserve, which would have included other digital assets seized from criminal proceeds.
Hobbs said the bill “disincentivizes local law enforcement from working with the state on…
