Arizona Drops Out of Bitcoin Reserve Race After Governor Katie Hobbs Vetoes Senate Bill 1025 ⋆ ZyCrypto
The post Arizona Drops Out of Bitcoin Reserve Race After Governor Katie Hobbs Vetoes Senate Bill 1025 ⋆ ZyCrypto appeared on BitcoinEthereumNews.com. Advertisement     Katie Hobbs, the Governor of Arizona, vetoed Senate Bill 1025, effectively ending the state’s hopes of having a Bitcoin treasury. There is another Senate Bill in the works, but Hobbs will most likely veto that. Hobbs announced the veto proudly, saying that the state has one of the strongest retirement systems in the country because politicians like herself make sensible investment decisions. Arizona was first in the race to create a crypto treasury. Sadly, many crypto supporters in Arizona will have no crypto treasury for at least a year. The Senate Bill 1025 would have allowed the state to invest up to 10% of public funds into crypto. Many retirement groups protested the bill because they felt politicians were gambling away their pensions on Bitcoin. Wendy Rogers, co-sponsor of the bill, voiced her disappointment and pointed out that Arizona’s retirement funds have already been invested in Saylor’s software company, Strategy, which has the world’s most extensive corporate Bitcoin treasury. Rogers said that Bitcoin doesn’t need Arizona, but that Arizona needs Bitcoin. Rogers promised supporters that she would refile another Senate Bill and, through persistence, get the bill passed. Strategy’s stock price rose around 30% in April, most assuredly adding value to Arizona’s robust retirement system. Hobbs, moreover, has a history of vetoing bills. She even threatened to veto all bills until disability legislation was resolved. In 2025 alone, she has vetoed 75 bills, more than all of 2024, which had 74 bills, but less than her record of 143 bills, which she vetoed in 2023, a record for an Arizona governor. There were two Senate Bills on Hobbs’ desk, awaiting approval: the 1025 bill she just dropped, and another 1373 bill, which she will most likely veto, due to her history of vetoing bills, especially those of…
The post Arizona Drops Out of Bitcoin Reserve Race After Governor Katie Hobbs Vetoes Senate Bill 1025 ⋆ ZyCrypto appeared on BitcoinEthereumNews.com.
Advertisement Katie Hobbs, the Governor of Arizona, vetoed Senate Bill 1025, effectively ending the state’s hopes of having a Bitcoin treasury. There is another Senate Bill in the works, but Hobbs will most likely veto that. Hobbs announced the veto proudly, saying that the state has one of the strongest retirement systems in the country because politicians like herself make sensible investment decisions. Arizona was first in the race to create a crypto treasury. Sadly, many crypto supporters in Arizona will have no crypto treasury for at least a year. The Senate Bill 1025 would have allowed the state to invest up to 10% of public funds into crypto. Many retirement groups protested the bill because they felt politicians were gambling away their pensions on Bitcoin. Wendy Rogers, co-sponsor of the bill, voiced her disappointment and pointed out that Arizona’s retirement funds have already been invested in Saylor’s software company, Strategy, which has the world’s most extensive corporate Bitcoin treasury. Rogers said that Bitcoin doesn’t need Arizona, but that Arizona needs Bitcoin. Rogers promised supporters that she would refile another Senate Bill and, through persistence, get the bill passed. Strategy’s stock price rose around 30% in April, most assuredly adding value to Arizona’s robust retirement system. Hobbs, moreover, has a history of vetoing bills. She even threatened to veto all bills until disability legislation was resolved. In 2025 alone, she has vetoed 75 bills, more than all of 2024, which had 74 bills, but less than her record of 143 bills, which she vetoed in 2023, a record for an Arizona governor. There were two Senate Bills on Hobbs’ desk, awaiting approval: the 1025 bill she just dropped, and another 1373 bill, which she will most likely veto, due to her history of vetoing bills, especially those of…
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