BlockNews
  • Crypto
  • Finance
  • Politics
  • Memecoins
  • NFT
  • Technology
  • Opinion
No Result
View All Result
FOLLOW
BlockNews
  • Crypto
  • Finance
  • Politics
  • Memecoins
  • NFT
  • Technology
  • Opinion
No Result
View All Result
BlockNews

Arizona’s Bold Bitcoin Treasury Plan Faces Governor’s Veto Threat

by Sham
April 18, 2025
in Bitcoin, Crypto, Finance, Opinion, Politics
A A
Arizona’s Bold Bitcoin Treasury Plan Faces Governor’s Veto Threat
2
SHARES
Share on TwitterShare on Reddit
  • Arizona is close to approving a bill that would let the state treasury invest in Bitcoin and other digital assets.
  • Governor Hobbs has threatened to veto all new bills unless lawmakers fix a $122 million funding gap.
  • Similar crypto reserve proposals have failed in other states, but Arizona’s could still pass—if politics don’t get in the way.

Arizona’s lawmakers are on the verge of pulling off something no other U.S. state has done yet: letting Bitcoin (and a few other digital assets) sit in the state treasury. But—there’s a catch. A political face-off with Governor Katie Hobbs might shut the whole thing down before it even gets going.

Here’s what’s up: Senate Bill 1373, dubbed the Digital Assets Strategic Reserve Fund, cleared a key hurdle on April 17 when it passed through the House Committee of the Whole. All that’s left is a final floor vote. If passed, it would set up a fund, managed by the state treasurer, made up of crypto seized by the state or added via state budget. The treasurer would be allowed to invest up to 10% of that fund in assets like Bitcoin, and even lend them out to earn more—as long as the risk doesn’t balloon.

JUST IN: 🇺🇸 Arizona is on the verge of becoming one of the first U.S. states to hold Bitcoin $BTC in its treasury, as two crypto reserve bills near final votes pic.twitter.com/n3A25LRiDO

— BlockNews (@blocknewsdotcom) April 18, 2025

And there’s more—Senate Bill 1025, known as the Arizona Strategic Bitcoin Reserve Act, would let the treasury and the state retirement system put up to 10% of their funds into Bitcoin specifically. That one passed through committee back on April 1, and it’s also waiting on a final vote.

But Governor Hobbs Isn’t Having It (Yet)

Despite the momentum, Governor Hobbs has pretty much slammed the brakes. She’s made it clear: until lawmakers deal with a $122 million budget shortfall for the Division of Developmental Disabilities, she’s not signing anything.

“Business as usual cannot continue,” she posted on social media. “Any bill not already on my desk will be vetoed.”

So yeah, even if the bills make it through the House, they’re likely heading straight for the veto pile—at least for now.

A GOP-Driven Push

Both crypto bills have been championed mostly by Republicans and would fall under the management of the state treasurer. One is funded by seized or allocated money, and the other allows actual state capital to go into Bitcoin. All of this fits in with the growing GOP support for crypto—especially since Trump got back in office. That said, Hobbs’ resistance isn’t unique. Other Democrat-led states have pushed back on similar ideas, citing concerns over market risk and crypto’s volatility.

Other States? Not So Lucky

Arizona’s crypto push stands out because—well—other states haven’t fared so well. Just this week, Oklahoma’s own Bitcoin reserve proposal fell apart during its Senate review, even though it had cleared multiple committees in the House.

Earlier attempts in places like Montana, North Dakota, and Wyoming also fizzled. Utah, once seen as a leader on the issue, ended up scrubbing language that would’ve allowed the state to directly hold Bitcoin. Instead, they pivoted to a more conservative route—just protecting crypto custody and mining legally.

Still, other states are hanging in. Texas and New Hampshire have bills in the works for limited crypto investments. According to Bitcoin Laws, there are now more than 30 active Bitcoin reserve proposals floating around in 20+ states.

So, What’s Next?

Supporters argue Bitcoin could help hedge against inflation and serve as a modern alternative to traditional cash reserves. But critics are still waving red flags, saying volatile assets like crypto just aren’t stable enough to play with taxpayer money.

Bitcoin Btc Price Chart

The final vote on Arizona’s SB1373 could happen any day now—but it’s Governor Hobbs’ decision that’ll make or break it. Will Arizona lead the way or end up just another state that almost made it?

Tags: Bitcoincryptodigital assetsKatie HobbsRepublicans
Tweet1ShareShare1

DON'T MISS THESE! HOT OFF THE PRESS

JRNY CLUB Announces $JRNY Token and EARN Platform
Breaking News

JRNY CLUB Announces $JRNY Token and EARN Platform

May 7, 2025
Everything You Need to Know About Doodles Upcoming DOOD Token
Crypto

Everything You Need to Know About Doodles Upcoming DOOD Token

May 7, 2025
Federal Reserve Holds Steady as Trump Tariffs Threaten Economic Stability: The Hard Truth Exposed
Finance

Federal Reserve Holds Steady as Trump Tariffs Threaten Economic Stability: The Hard Truth Exposed

May 7, 2025
Mark Cuban Slams Trump’s Crypto Ventures as Self-Serving Disaster: Is This True?
Crypto

Mark Cuban Slams Trump’s Crypto Ventures as Self-Serving Disaster: Is This True?

May 7, 2025
Federal Reserve Holds Rates Steady Amid Tariff Uncertainty: Trump Disappointment Grows
Breaking News

Federal Reserve Holds Rates Steady Amid Tariff Uncertainty: Trump Disappointment Grows

May 7, 2025
U.S. Aims to Become Premier Hub for Digital Asset Innovation, Says Bessent
Crypto

U.S. Aims to Become Premier Hub for Digital Asset Innovation, Says Bessent

May 7, 2025
Load More

Related News

JRNY CLUB Announces $JRNY Token and EARN Platform

JRNY CLUB Announces $JRNY Token and EARN Platform

May 7, 2025
Everything You Need to Know About Doodles Upcoming DOOD Token

Everything You Need to Know About Doodles Upcoming DOOD Token

May 7, 2025
Federal Reserve Holds Steady as Trump Tariffs Threaten Economic Stability: The Hard Truth Exposed

Federal Reserve Holds Steady as Trump Tariffs Threaten Economic Stability: The Hard Truth Exposed

May 7, 2025
Mark Cuban Slams Trump’s Crypto Ventures as Self-Serving Disaster: Is This True?

Mark Cuban Slams Trump’s Crypto Ventures as Self-Serving Disaster: Is This True?

May 7, 2025
Federal Reserve Holds Rates Steady Amid Tariff Uncertainty: Trump Disappointment Grows

Federal Reserve Holds Rates Steady Amid Tariff Uncertainty: Trump Disappointment Grows

May 7, 2025
Discord Twitter Youtube TikTok Instagram

BLOCKNEWS.COM

BlockNews

BlockNews.com is your premier source for real-time cryptocurrency, blockchain, and financial market news.

Our mission is to deliver accurate, timely, and insightful information to help both seasoned investors and newcomers navigate the evolving digital economy.

With in-depth analysis, exclusive insights, and up-to-date news, BlockNews.com keeps you informed on the latest trends in crypto, DeFi, NFTs, tech, and beyond.

Stay ahead of the herd with BlockNews.com

RESOURCES

  • About
  • Newsletter
  • Advertise
  • Terms and Conditions
  • Privacy Policy

POPULAR TOPICS

$ADA $XRP AI Avalanche Binance Bitcoin Bitcoin ETF blackrock Blockchain BTC Business Cardano China Coinbase crypto cryptocurrency Crypto Exchange Crypto Regulation DeFi Dogecoin Donald Trump Elon Musk ETF eth ethereum Federal Reserve FTX Gary Gensler grayscale Memecoin metaverse Microstrategy NFT NFTs PEPE ripple sec Shiba Inu Solana Stablecoin Technology twitter US Web3 xrp

GET QUICKER UPDATES ON X

© 2022-2025 BlockNews.com - Crypto and NFT news website by Aiur Labs.

No Result
View All Result
  • Home
  • Crypto
  • Memecoins
  • Technology
  • Politics
  • Finance
  • NFT
  • DeFi
  • Opinion

© 2022-2025 BlockNews.com - Crypto and NFT news website by Aiur Labs.