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Arizona Senate Bill 1025, co-sponsored by two Republican lawmakers, proposed creating a state-managed digital assets reserve by investing seized funds in Bitcoin
Arizona Governor Katie Hobbs vetoed the Digital Assets Strategic Reserve bill that would have allowed the state to invest up to 10% of public funds in Bitcoin
Arizona Governor, Democrat Katie Hobbs vetoing Senate Bill 1025 stated that Arizona’s retirement funds should not be exposed to “untested investments like virtual currency”
Arizona Governor Katie Hobbs had previously declared that she would veto any crypto reserve legislation related to disability funding that was not part of a bipartisan agreement
Arizona Senate Bill proposing creating a Bitcoin reserve passed the Republican-majority state Senate and House on April 28, 2025

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