๐๐ซ๐ข๐ณ๐จ๐ง๐ ๐๐จ๐ฏ๐๐ซ๐ง๐จ๐ซ ๐๐๐ญ๐จ๐๐ฌ ๐๐ข๐ญ๐๐จ๐ข๐ง ๐๐ข๐ฅ๐ฅ, ๐๐ข๐ญ๐๐ฌ โ๐๐ข๐ฌ๐ค ๐ญ๐จ ๐๐ฎ๐๐ฅ๐ข๐ ๐ ๐ฎ๐ง๐๐ฌโ
โ Bitcoin bill blocked in Arizona over concerns about crypto risks
On May 5, 2025, Arizona Governor Katie Hobbs vetoed a proposed law that wouldโve allowed the state to invest up to 10% of public fundsโlike retirement accountsโinto digital assets such as Bitcoin.
โ ๏ธ Why the Bill Was Rejected
โ๏ธ Hobbs said cryptocurrency is still unproven and too risky for retirement savings
โ๏ธ โWe shouldnโt gamble with Arizonansโ futures,โ she wrote in her veto letter
โ๏ธ Arizona's public retirement system is among the strongest in the U.S., and Hobbs wants to keep it that way
๐ What the Bill Wanted
โ๏ธ Let the stateโs treasurer and retirement systems invest in Bitcoin and other virtual currencies
โ๏ธ Pushed by Republican lawmakers who say crypto is part of the future
โ๏ธ Passed by Arizonaโs GOP-led legislature on April 26, 2025
๐ฅ Strong Reactions Online
Bitcoin supporters were furious.
David Bailey, CEO of Bitcoin Magazine, posted on X:
โImpeach Katie Hobbs, she just screwed over Arizona.โ
๐งญ What Happens Next?
โ๏ธ Similar bills are also being discussed in Iowa, Missouri, and Texas
โ๏ธ But no U.S. state has passed a law yet to hold Bitcoin in official reserves
๐ Big Picture
Governor Hobbsโ decision highlights the ongoing national debate:
Should governments embrace crypto as an investment, or play it safe with traditional assets?
