Arizona Halts Bitcoin Reserve Plan as Governor Vetos Bill
By: fx daily report|2025/05/03 22:30:02
0
Share
Arizona Governor Katie Hobbs has recently vetoed Senate Bill 1025, which would have let state invest in digital assets like Bitcoin ($BTC). According to VanEck’s Head of Research Matthew Sigel, Arizona Governor Katie Hobbs has highlighted apprehensions over untested nature and volatility of digital assets while vetoing the Senate Bill 1025. The VanEck executive took to his official social media account to discuss the Arizona Governor’s rejection of the Senate Bill 1025. Arizona Governor Ignites Wider Debate by Vetoing Strategic Bitcoin Reserve Act Matthew Sigel mentioned the importance of the Senate Bill 1025 in allowing digital asset investment by the State of Arizona. Hence, the bill called Arizona Strategic Bitcoin Reserve Act proposed allowance for investment in diverse digital assets such as Bitcoin ($BTC). However, the Arizona Governor’s letter addressed to the Senate President Warren Petersen indicates several concerns over investment in digital assets. In this respect, the letter points toward their volatility as well as the untested nature. Keeping this in view, the Arizona Governor has asserted the significance of informed and committed investments for retirement funds. Trending Now: Bitcoin Set for $100k as ETFs Buy 3,215 $BTC worth $311 Million Based on these factors, Governor Hobbs has vetoed the bill, which was co-sponsored by Jeff Weninger and Wendy Rogers. On the other hand, after its approval, it would have made the State of Arizona the 1st U.S. state to embrace such a policy. However, this veto has triggered a resilient response among the crypto supporters. Likewise, Matthew Sigel has also expressed disappointment. He asserted that the Governor unfairly categorized Bitcoin as not a sound and untested investment. Additionally, he persuaded the citizens to respectfully go to the Governor, urging her to reconsider the decision. Bill Aligns with Hobbs’ Hardlined Stance on Financial Security The decision by Governor Hobbs to reject the Bitcoin Bill reflects her wider stance when it comes to financial security. Nonetheless, it is unlike the decisions taken by North Carolina’s House. It has reportedly approved the Digital Asset Investment Act. The bill allows the treasurer to invest nearly five percent of particular funds linked to authorized digital assets.
You may also like
Track Markets At a Glance: New WEEX Price Widgets for iOS & Android
To streamline your market data access, WEEX has officially launched "Market Watchlist" desktop widgets
The billion-dollar lesson: The focus of DeFi security is shifting from code to operational governance
Warning of nearly $1 billion loss in DeFi: Security pain points have shifted from code vulnerabilities to permissions and operations. Introducing TradFi bank-level risk control and AI defenses is the way to balance openness and security.
A Brief Analysis of Stablecoin Licenses and On-Chain Funding
Hong Kong accelerates the layout of digital finance, providing a panoramic analysis of the evolution of three major on-chain financial forms: central bank digital currency, deposit tokens, and stablecoins, along with future opportunities.
BVNK Founder: Three Stages of Stablecoin Development
Once payments become faster, cheaper, and globally interconnected, stablecoins will not just open up a new market, but a new realm with boundaries that are not yet visible today.
The truth about Trump's son's Bitcoin game: he made a staggering $100 million while retail investors lost $500 million
The Trump family has a family skill: to exaggerate and make something sound bigger than it actually is.
What Is Futures Trading? Hours, Platforms, and How to Start Trade Futures(2026 Guide)
Learn how to start futures trading, understand trading hours, and choose the best futures trading platform. Includes real data, strategies, and ways to maximize returns with rebates.
The Rise of Composable RWA
27 billion RWA funds are undergoing a major reshuffle: U.S. Treasury bonds are "cooling off," while high-yield credit assets are quietly dominating the DeFi lending market with permissionless designs. This article reveals the explosive logic behind composable RWA.
MAGA Up 350% in 24 Hours, PEPE Up 46% in One Day: Which Memecoins Are Next in 2026?
MAGA +350% in 24hrs. PEPE +46% in one day. RAVE +4,500% then -90%. In 2026's memecoin market, the gains are real. So are the traps? Here's how to tell the difference before you buy.
RCD Espanyol vs Real Madrid: Can the Pericos Delay the Inevitable?
RCD Espanyol vs Real Madrid lineups, standings, and stats for May 3, 2026. Real Madrid visits RCDE Stadium as Barcelona closes in on the LALIGA title. Full preview inside.
MegaETH goes live with an FDV exceeding 2 billion USD. Which ecological projects are worth paying attention to?
The financing and team backgrounds of many projects in the MegaETH ecosystem are rich, making it the most prosperous ecosystem among unlaunched public chains, and it is currently the focus of attention for profit-seekers.
Dialogue with "Wood Sister" Cathie Wood: The next bull market is about to arrive
The correlation coefficient between gold and Bitcoin is only 0.14. In the past two cycles, gold started before Bitcoin, and this time is no different.
Can prediction markets win the competition for perpetual contracts?
Polymarket and Kalshi have entered the perpetual contract arena. In the face of Hyperliquid's "cross-margin" dimensional reduction attack, can the prediction market break the curse of loss and turn the tide?
Who is trading on Trade.xyz?
A Polymarket user supported nearly half of Trade.xyz's "active addresses" with 34,000 wallets, yet contributed less than 1% of the trading volume. The real support for the market comes from market-making institutions like Jump, Selini, and Wintermute, as well as a group of directional traders crossi...
Binance quietly placed a bet on a leading large model company
In the past year, YZi Labs has significantly accelerated its investments in the AI field, from educational agents to physical robots, and then to large models, with crypto capital and AI technology rapidly integrating.
Best Crypto Discord Server 2026: Why Jacob’s Crypto Clan Is Gaining Massive Attention
Jacob’s Crypto Clan has grown into one of the most active crypto Discord communities, with over 45K members and continuing to expand. This rapid growth reflects strong demand for structured trading insights and real-time collaboration.
Tom Lee Buying ETH: Why Wall Street’s Loudest Ethereum Bull Keeps Doubling Down
Tom Lee keeps buying ETH through every dip, every drawdown, and every moment of market doubt. Inside the strategy that's turning Ethereum into a treasury asset — and what it signals for the rest of the market.
Stripe Sessions 2026: AI Agent, Global Payments, and Invisible Crypto Infrastructure
Stablecoins have finally begun to enter the real business world, but this time, the main character may not be exchanges, wallets, or public chains, but Stripe. It encapsulates KYC, wallets, gas, compliance, and settlement, allowing businesses to access on-chain assets just like using regular payment...
Where will South Korea's cryptocurrency taxation head?
There is little time left before South Korea implements cryptocurrency taxation, but the current tax laws only cover simple spot and currency-to-currency transactions. Driven by the international tax information exchange standard (CARF), South Korea is comprehensively building an intelligence analys...
Track Markets At a Glance: New WEEX Price Widgets for iOS & Android
To streamline your market data access, WEEX has officially launched "Market Watchlist" desktop widgets
The billion-dollar lesson: The focus of DeFi security is shifting from code to operational governance
Warning of nearly $1 billion loss in DeFi: Security pain points have shifted from code vulnerabilities to permissions and operations. Introducing TradFi bank-level risk control and AI defenses is the way to balance openness and security.
A Brief Analysis of Stablecoin Licenses and On-Chain Funding
Hong Kong accelerates the layout of digital finance, providing a panoramic analysis of the evolution of three major on-chain financial forms: central bank digital currency, deposit tokens, and stablecoins, along with future opportunities.
BVNK Founder: Three Stages of Stablecoin Development
Once payments become faster, cheaper, and globally interconnected, stablecoins will not just open up a new market, but a new realm with boundaries that are not yet visible today.
The truth about Trump's son's Bitcoin game: he made a staggering $100 million while retail investors lost $500 million
The Trump family has a family skill: to exaggerate and make something sound bigger than it actually is.
What Is Futures Trading? Hours, Platforms, and How to Start Trade Futures(2026 Guide)
Learn how to start futures trading, understand trading hours, and choose the best futures trading platform. Includes real data, strategies, and ways to maximize returns with rebates.
Popular coins
Latest Crypto News
Read more
Customer Support:@weikecs
Business Cooperation:@weikecs
Quant Trading & MM:bd@weex.com
VIP Program:support@weex.com