Arizona Gov. Katie Hobbs Vetoes SB 1025, Citing Bitcoin as ‘Untested Investment’

Arizona Governor Katie Hobbs vetoed Senate Bill 1025 on May 2, which aimed to establish the state’s first-ever Strategic Bitcoin Reserve. The bill, passed by the state House and Senate on April 28, would have allowed Arizona to invest public funds into Bitcoin. Governor Hobbs justified her veto by describing Bitcoin as an ‘untested investment,’ particularly unsuitable for Arizonans’ retirement funds. This decision comes despite the bill’s passage with bipartisan support, though not with a veto-proof majority. To continue reading this as well as other DeFi and Web3 news, visit us at thedefiant.io

Source: The Defiant