Arizona Governor Katie Hobbs has rejected Senate Bill 1025, which would have permitted the investment of public funds in virtual currencies. Citing a Deep Tide TechFlow report from May 3rd, Governor Hobbs emphasized the strength and prudence of Arizona's existing retirement system. She argued that venturing into the unproven and potentially volatile realm of virtual currency is an unsuitable risk for the retirement savings of state residents. This veto underscores a cautious approach towards incorporating digital assets into the state's public investment strategy, prioritizing the stability and security of established retirement funds.