Arizona Governor Vetoes Seized Crypto Reserve Fund Bill
Arizona Governor Katie Hobbs vetoed House Bill 2324, which aimed to establish a fund for managing seized crypto assets. The governor stated the bill would discourage local law enforcement from cooperating with the state on digital asset forfeiture. The House initially voted down the bill, but the Senate revived it, leading to a 34-22 approval in June. The veto could be overridden with a two-thirds vote from both chambers, though this seems unlikely. The bill proposed a "Bitcoin and Digital Assets Reserve Fund" and outlined a distribution plan for seized assets. Hobbs has previously vetoed other crypto-related bills, citing concerns over cryptocurrencies as "untested investments." Only one crypto bill, Arizona House Bill 2749, has been enacted, integrating crypto assets into state financial frameworks. Other states, like Texas and New Hampshire, are advancing similar crypto reserve initiatives.
