Arizona will not invest in Bitcoin (BTC), at least not this year.
Friday, Governor Katie Hobbs opposed a bill that would have enabled the State to hold the digital assets within the framework of its official reserves.
The legislation, known as Bill 1025 of the Senate, proposed to use funds seized to invest in the BTC and create a reserve of digital assets managed by the State. After adopting the State House during a close vote of 31 to 25 years, the bill reached the Hobbs office, where it was quickly canceled.
“The retirement system of the state of Arizona is one of the strongest in the country because it makes solid and enlightened investments.
The veto puts an end to a push that could have made Arizona the first state to set up a cryptocurrency reserve, and this could even have exceeded the American Treasury department.
Read more: as a state is getting closer to a crypto reserve, others jump into the fray
