Hobbs vetoes two crypto bills Another Bitcoin res

Hobbs vetoes two crypto bills

Another Bitcoin reserve bill that reached Hobbs’ desk was Senate Bill 1025, which proposed the creation of the Arizona Strategic Bitcoin Reserve Act (2025) and would have allowed the state treasurer to invest up to 10% in Bitcoin and potentially other crypto assets.

Hobbs also vetoed SB 1373 on May 12, which aimed to create the “Digital Assets Strategic Reserve Fund.”

“Current volatility in cryptocurrency markets does not make a prudent fit for general fund dollars,” Hobbs stated in her veto letter. “I have already signed legislation this session which allows the state to utilize cryptocurrency without placing general fund dollars at risk.”