Arizona Governor rejects bitcoin reserve law again
The governor of Arizona Katie Hobbes has established another backup bill in Bitcoin (BTC). The House of Representatives Law 2324 sought to establish a “digital assets and digital assets” funds with funding from the confiscation of criminal assets.
This is the third veto of the digital assets budget in the current legislative session, which highlights a cautious approach to integrating the cryptocurrency into the state’s financial framework.
The death of the Bitcoin reserve bill in Arizona after the veto in the governor Hobbes
Beincrypto said that the draft law initially failed to vote the final parliament in early May. However, the legislators resumed in late June, and they issued a vote in the Senate. On June 24, HB 2324 cleansed the house with a 34-22 vote.
However, the draft law has officially died with the ruling Veto Hobbes. In her cassation message, addressed to Parliament Speaker Steve Montenegro, indicating concerns about the impact of legislation on local law enforcement.
“Today, I objected to the House Law 2324. This is a draft law enforcement of local law from working with the state on the confiscation of digital assets by removing the assets seized from the local judicial authorities,” letter Read.
This veto in rejecting two previous draft laws follows the Senate Bill 1025 and the Senate 1373. The first was aimed at allowing the state to invest up to 10 % of its public funds in Bitcoin or other digital assets.
SB 1373 suggested financing the strategic reserve fund for digital assets with the digital assets seized by the state, and the additional funds that were allocated by the Legislative Authority in Arizona, and allowed more state investments. In addition to the bills of reserve laws, Governor Hobs objected to the Senate Bill 1024. This would allow state agencies to accept the encoded currency for payments such as fines, taxes and fees.
Despite this veto, Arizona did not completely abandon the concept of digital asset reserves. HB 2749, signed in the law on May 7, creates a reserve with funding of non -demanded property, including virtual currencies, Airdrops, and exciting bonuses.
This law does not allow direct investment in encrypted currencies. However, it represents a compromise that avoids the use of state funds while continuing to integrate digital assets into public financing. This corresponds to her conservative approach to its administration to manage taxpayer money.
Meanwhile, Connecticut adopted a tougher stance. On June 30, Governor Nid Lamont signed a draft law prohibiting the state and its sub -divisions accepting the virtual currency of payments, from buying, retaining, investing, or creating digital asset reserves.
While the opposition exists, the momentum of bitcoin reserves at the state level is still strong. According to the latest Data Of the Bitcoin laws, there are currently 17 active bill in eight different states. This indicates that despite the resistance, there is constant interest and effort in creating bitcoin reserves at the state level.
Disintegration
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