Arizona Governor Katie Hobbs vetoed a bill creating a state Bitcoin reserve, citing concerns about cryptocurrency market volatility and its potential impact on state funds. This decision has drawn criticism from the crypto community, who argue that Arizona missed an opportunity to embrace blockchain technology. Governor Hobbs’ rationale rests on the fact that current volatility in the cryptocurrency market doesn’t warrant the use of general fund dollars for such a venture. While supporting another bill aimed at utilizing unclaimed digital assets like Bitcoin, Governor Hobbs emphasized the need for responsible and prudent approaches to crypto-related initiatives. Crypto industry figures including Dennis Porter of Satoshi Action Fund lauded this approach while criticizing the veto decision. Senator Wendy Rogers, meanwhile, advocated for Bitcoin adoption in Arizona, suggesting a lack of understanding by Governor Hobbs regarding its potential benefits. Crypto investors like Anthony Pompliano expressed their disappointment and highlighted the disconnect between regulatory frameworks and technological advancements.