All it needs now is the governor's signature. As a democrat what is Gov. Hobbs' position on bitcoin? I can't find any info on it.
Most democrats are neutral to against bitcoin which is a significant reason why they lost badly to Trump.

You have to be pretty bad at your job to lose to someone like Trump.

This is a welcome development as different states apart from America as a country that has started the process of investing in crypto currency by setting up a Bitcoin reserves from the news it's clear that the governor will eventually sign and make the proposed bill a law, this is a very good idea that the states law Makers had done because Arizona as a state is going to be enjoying the benefit of their investments in the years to come because Bitcoin is one that always grows with time so for so definitely there's going to be a return on investment for this state that has taken this bold step

Governor Katie Hobbs vetoed the bill on May 2, blocking it from becoming law - https://www.dlnews.com/articles/regulation/first-in-the-us-bitcoin-reserve-blocked-by-governors-veto/ Arizona’s bid to become the first US state to hold Bitcoin as part of its official reserves has ended in a veto.

"Oklahoma’s version of the Bitcoin reserve act died in committee last month, while efforts in Montana, North Dakota, and Wyoming also fizzled in the first quarter".

Before making such conclusions, try to read the message under which you left your post that Governor Katie Hobbs vetoed the bill on May 2, blocking it from becoming law. So far, no US state has been able to pass a law that would allow bitcoins to be hold in their official reserves.

Just because President Trump supports cryptocurrency doesn't mean states will follow him. The US is a federation and power is divided between the federal government and the state governments. This means that states have the right to make their own decisions in many areas, and they do not have to follow every decision of the president as long as it does not violate the federal constitution . That is why many states have vetoed bitcoin reserves even though the US government has a strategic bitcoin reserve.

Additionally, as tvplus006 said above: Arizona Governor Katie Hobbs vetoed the bill, which means there is still no state bitcoin reserve in the US.

it did look like Arizona was ready to make history. But just to clarify and deepen the conversation: the bill got vetoed by Governor Katie Hobbs on May 2. So while both SB1025 and SB1373 made it through the legislature, the final greenlight never happened. No 10% Bitcoin allocation. No Digital Asset Strategic Reserve Fund. Not even for seized assets.

Arizona had $31B+ in treasury assets and $52B in the retirement system. That’s real taxpayer and pension money. The bills were bold, yes, but they lacked detailed volatility safeguards or defined exit frameworks. Saying “diversify into BTC” is fine in a tweet. Doing it with public funds is different.

Still, I agree with your hope: the narrative did push the Overton window. Texas and North Carolina are still in play. Hobbs’ veto may delay the state-level momentum. Long-term? BTC integration is inevitable. But in the short run? Institutions, especially public ones, aren’t going to gamble before custody, risk, and legal compliance are bulletproof.

This is good but it doesn't really affect users' perception of crypto let alone adoption. This is just putting taxpayer money into a strategic bitcoin reserve, for investment purposes. Many governments are doing that at this point.

thanks @tvplus006  for updating the thread to the latest update concerning Arizona state owning a bitcoin reserve, but sincerely speaking here what Governor Katie Hobbs did was not encouraging at all, or is Governor Katie Hobbs against cryptocurrency, bitcoin in particular?


exactly the chance was there and she trolled it away, just imagine how excited the citizens of Arizona state was when they first heard the news that the state want to own a bitcoin reserve and imagine  how devastated they will be now that things went the other way round.

katie hobbs has a agenda to increase funding of some disability provisions in the healthcare sector.
she is holding ALL new bills to ransom until everyone on both sides of the table can agree to her agenda. its not a bitcoin thing, she wants any and all bills introduced to be vetoed until she gets her healthcare agenda sorted

she is the veto queen
she vetoed atleast 20 things in one day.. everything from birth certification to water rights