Arizona Governor Katie Hobbs has vetoed House Bill 2324, which aimed to establish a fund for seized cryptocurrency assets. In her veto letter, she expressed concerns that the bill would discourage local law enforcement from collaborating with the state on digital asset forfeiture by removing seized assets from local control. Although the House initially rejected the bill in May, the Senate revived it, leading to a 34-22 vote in favor on June 24. The veto could be overridden with a two-thirds majority in both chambers, but this seems unlikely without a change in votes. The proposed legislation would have created a 'Bitcoin and Digital Assets Reserve Fund' to manage forfeited digital assets, with specific allocations for the attorney general's office and state funds. Governor Hobbs has previously vetoed other crypto-related bills, citing concerns over the risks associated with cryptocurrencies. Meanwhile, other states like Texas and New Hampshire are moving forward with their own crypto reserve initiatives. Read more AI-generated news on: https://app.chaingpt.org/news

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