Arizona Governor Katie Hobbs has rejected House Bill 2324, which concerned the creation of a reserve fund for cryptocurrency.
Bill Progress
House Bill 2324 was initially rejected by the Arizona House, but the Senate revived it, leading to its passage in a 34-22 vote. The governor stated that the bill "disincentivizes local enforcement from working with the state on digital asset forfeiture".
Veto Override Potential
The governor's veto can be overridden with a two-thirds vote in both the House and Senate, but this seems unlikely at the moment unless some lawmakers change their votes.
History of Bill Rejections
Katie Hobbs has previously vetoed several crypto-related bills. In May, she rejected Senate Bill 1025, which would have allowed a 10% investment in Bitcoin, citing cryptocurrencies as "untested investments."
Thus, the Governor of Arizona maintains a critical stance towards cryptocurrency bills, perceiving them as potentially risky investments.
