Arizona Governor Vetoes Bill to Make Bitcoin Part of State Reserves

Arizona’s governor has vetoed a bill that would have included Bitcoin in the state’s official reserves, effectively ending efforts to make Arizona the first US state to adopt such a policy. The bill, Senate Bill 1025, proposed allowing the state to invest seized funds into Bitcoin and create a reserve managed by state officials. Governor Katie Hobbs stated her veto on Friday, citing concerns about using retirement funds for untested investments like virtual currency.