$BTC The veto arrives. Although the chambers that make up the legislative branch of Arizona voted in favor, the American state in question will not have reserves in Bitcoin. Arizona Governor Katie Hobbs has indeed used the powers granted to her by law to block, at the final stages, the initiative.

Had the veto not been opposed, Arizona would have become the first American state to hold a reserve in Bitcoin. The Digital Assets Strategic Reserve Bill is therefore, definitively, dead.

The law would have allowed Arizona to hold crypto obtained through seizure and – with a parallel law – would have allowed the State Treasury to invest up to 10% in Bitcoin. However, this second law has not yet reached the governor's desk. If it does, it will likely suffer the same fate.