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🚨🇺🇸Arizona #Governor Vetoes Bitcoin Reserve #Bill SB 1025
🔹Bill Rejected: Governor Katie Hobbs #vetoed SB 1025, which proposed allocating state reserves to $BTC investments.
🔹Reason Cited: Hobbs said #retirement funds shouldn't be used for “untested investments like virtual currency.”
🔹Override Unlikely: The legislature would need a two-thirds majority to overturn the veto, but current vote margins (House: 31–25, Senate: 17–11) fall short.
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🔹Bill Rejected: Governor Katie Hobbs #vetoed SB 1025, which proposed allocating state reserves to $BTC investments.
🔹Reason Cited: Hobbs said #retirement funds shouldn't be used for “untested investments like virtual currency.”
🔹Override Unlikely: The legislature would need a two-thirds majority to overturn the veto, but current vote margins (House: 31–25, Senate: 17–11) fall short.
$BTC $ETH
🚨🇺🇸 ARIZONA #PASSES SB 1025 & SB 1371 — AWAITS #GOVERNOR 'S DECISION
🔹SB 1025: Public Monies; Investment in Virtual Currency
🔹SB 1371: Creation of a Digital Assets Strategic Reserve Fund
🔹Bills passed final House vote, now head to Governor Katie Hobbs (@katiehobbs).
Governor's Options:
🔹Sign: Arizona would be the first U.S. state to invest up to 10% of public funds in Bitcoin.
🔹Veto: Hobbs has vetoed crypto bills before, citing financial risks and volatility concerns.
🔹No Action: Bills become law automatically after five days (excluding Sundays).
🔹Critics warn Bitcoin’s volatility could risk taxpayer funds.
Supporters argue it would strategically diversify Arizona's holdings.
$BTC $ETH $XRP
🔹SB 1025: Public Monies; Investment in Virtual Currency
🔹SB 1371: Creation of a Digital Assets Strategic Reserve Fund
🔹Bills passed final House vote, now head to Governor Katie Hobbs (@katiehobbs).
Governor's Options:
🔹Sign: Arizona would be the first U.S. state to invest up to 10% of public funds in Bitcoin.
🔹Veto: Hobbs has vetoed crypto bills before, citing financial risks and volatility concerns.
🔹No Action: Bills become law automatically after five days (excluding Sundays).
🔹Critics warn Bitcoin’s volatility could risk taxpayer funds.
Supporters argue it would strategically diversify Arizona's holdings.
$BTC $ETH $XRP
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