Arizona Governor Katie Hobbes has veto a bill, which would have allowed the state to keep bitcoins as part of its official reserves, effectively ending efforts to make Arizona the first American state to adopt such a policy.
The Digital Assets Strategic Reserve Bill, which allowed Arizona to invest the fund seized in bitcoin (BTC) and to create a reserve managed by state officials, according to A, was formally killed on Friday. Update Arizona on the website of the State Legislature.
“Today, I veto the Senate Bill 1025. Arizona State Retirement System is one of the strongest in the nation because it invests sound and informed,” Hobbes wrote In a statement aimed at the purpose of Warren Peterson, president of the Erizona Senate.
He said, “Arizonans Retirement Fund is not a place for the state to try unused investments such as virtual currency,” he said.
On 28 April, Bill passed a final vote at the State House when 31 members of the Arizona House protested in favor of the bill.
Hobbes earlier said that it would not bound any law with a bipartisan agreement on the funding of disability.
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Another bitcoin is waiting for the last vote
A fellow bill, SB1373, who would authorize the state’s treasurer to allocate to 10% of Arizona rain in digital assets such as bitcoin, has not yet reached the final vote.
Arizona is involved in many other states where similar efforts have failed. In recent months, similar proposals have been stopped or withdrawn in Oklahoma, Montana, South Dakota and Vyoming.
In contrast, the North Carolina House passed the Digital Asset Investment Act on 30 April, allowing the state treasurer to allow 5% of some funds in the approved cryptocurrency. The bill has now been taken to the state Senate for consideration.
State level efforts to create bitcoin stores make a push to do the same in the federal government with US President Donald Trump and Republican MPs.
Trump signed an executive order in March with the proposal of “Strategic Bitcoin Reserve” and “Digital Asset StockPile”.
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