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Arizona Governor Vetoes Bitcoin SB 1025 Fund Bill
Arizona Governor Opposes State Fund Investment in Cryptocurrency
According to official documents from Arizona, Governor Katie Hobbs has vetoed Senate Bill 1025 (SB 1025). This bill allows public funds to invest in cryptocurrency. In her veto statement, Ms. Hobbs emphasized that the Arizona Retirement System is one of the strongest systems in the United States, thanks to a safe and prudent investment strategy. She believes that the state pension fund is not suitable for unproven investments like cryptocurrency.
Currently, there are two bills on the governor’s desk. One of them also allows the state treasurer to invest in Bitcoin or cryptocurrency-related ETFs. The third bill, proposed by a House member, has a higher likelihood of being passed. This legal text will allow third-party exchanges, such as Coinbase, to send cryptocurrencies without state government requirements in their original form, instead of having to liquidate as per current law.
The content above is for market information purposes only and does not constitute investment advice.
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