Arizona Governor Vetoes Crypto Seizure Fund Bill
Arizona Governor Katie Hobbs vetoed House Bill 2324, which proposed creating a ‘Bitcoin and Digital Assets Reserve Fund’ for managing seized cryptocurrencies. This decision reflects ongoing caution regarding crypto regulation and digital asset management in government operations.
Key Provisions of the Vetoed Legislation
- Allocated first $300,000 of seized crypto to the attorney general’s office
- Distributed remaining funds between state agencies
- Faced opposition over potential impact on local law enforcement cooperation
Governor’s Consistent Approach to Crypto Bills
Governor Hobbs previously rejected similar measures, including Senate Bill 1025 and Senate Bill 1373, citing concerns about cryptocurrency volatility. However, she approved House Bill 2749, which formally recognizes digital assets in state financial systems.
Broader Implications for State Crypto Policies
While Arizona debates these measures, states like Texas and New Hampshire are implementing their own crypto reserve programs. This growing trend highlights increasing state-level engagement with digital asset frameworks across the U.S.
