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Governor Katie Hobbs of Arizona has vetoed the state’s Strategic Bitcoin Reserve legislation, despite its approval by both the House and Senate. She expressed concerns about Bitcoin being an “untested investment,” which led to her decision to block the bill. This move halts efforts to create a state-backed Bitcoin reserve, emphasizing the uncertainty around the cryptocurrency’s long-term stability. Governor Hobbs’ veto marks a significant setback for advocates of Bitcoin adoption in the state.
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Sohrab Khawas
Sohrab Khawas
Author
Sohrab is a passionate cryptocurrency news writer with over five years of experience covering the industry. He keeps a keen interest in blockchain technology and its potential to revolutionize finance. Whether he's trading or writing, Sohrab always keeps his finger on the pulse of the crypto world, using his expertise to deliver informative and engaging articles that educate and inspire. When he's not analyzing the markets, Sohrab indulges in his hobbies of graphic design, minimal design or listening to his favorite hip-hop tunes.
- May 03, 2025 11:35 UTC
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Arizona Governor Rejects Bitcoin Reserve Bill, Calls It “Untested Investment”
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