Arizona governor rejected a draft law that would see that the American state was holding on the funds in the fund.
The governor of Arizona Katie Hobbes vetoed 2324 on Tuesday, Tuesday, male In a speech that “the local implementation of working with the state about the confiscation of digital assets is disturbed by removing the seized assets from the local judicial states.”
The State Council voted during its third reading in May, but the Senate Revival In the review of the last month. The measure was then Pass By the House of Representatives in 34-22 votes on June 24.
The veto in the ruler can be overcome by the vote of two -thirds of the House of Representatives and the Senate, but it seems unlikely to happen unless some legislators change their vote.
The bill had established the Bitcoin Reserve Fund and Digital Assets to manage any digital assets that have been confiscated to the state.
Katie Hobbs’ Veto to HB 2324. Source: Arizona Governor Office
The draft law stipulates that the first encryption of $ 300,000 in criminal confiscation will go to the Public Prosecutor’s Office.
Any more than that has been divided by 50 % with AG, 25 % to the state’s general fund, and 25 % for the new backup fund.
Hobbes’ history of rejecting the draft encryption law
Hobbs arrested other encryption bills that made their way through the State Council and the Senate.
In May, she objected to the 1025 Senate Bill, which would create the Bitcoin Strategic Reserve in Arizona and allowed the Fund Secretary to invest up to 10 % in Bitcoin (BTCThe saying of cryptocurrencies is “unspecified investments.”
Related to: Bitcoiners explode “ignorance”, the ruler of Arizona after Bitcoin Bill Veto
It is also the right to veto Senate Bill 1373The strategic digital asset reserve bill would also allow the state to establish the Ministry of Treasury from the seized assets.
🇺🇸 Only in: The Governor of the State of Arizona Katie Hobbes has caused vetoes on the state of digital assets reserves in the state HB2324.
She claimed that the draft law would prevent local law enforcement from cooperating with the state regarding the confiscation of digital assets by removing the seized assets from the local judicial states. pic.twitter.com/d4li2j8ash
– Cointelegraph (@cointelgraph) July 2, 2025
Arizona allows
Three encryption bills have now been rejected by the governor of Arizona, and only one has succeeded.
Arizona House Bill 2749, Age in MayThe state laws are modified to integrate the assets of encryption into the financial property frameworks and not demanded in the state of Arizona by establishing the Bitcoin Fund and the digital assets, which are managed by the treasurer.
State race to pass the encryption laws
Other American countries are also studying bills that create bitcoin and Crypto storage reserves.
Last month, the governor of Texas Greg Abbott I signed a draft law To create the Bitcoin Strategic Reserve Texas, a country -run fund that will retain Bitcoin as part of the state’s long -term assets.
New Hampshire also approved a draft law in May, enabling the state to “invest in cryptocurrencies and precious metals”, while six other legislative bodies have bills in different stages of traffic aimed at establishing a encryption reserve Data From Bitcoin laws.
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