From Cointelegraph

May 3, 2025 5:23:00 am:

Arizona Governor Katie Hobbs vetoed a bill allowing the state to hold Bitcoin in reserves, making Arizona the first US state to reject such a policy. The Digital Assets Strategic Reserve bill was struck down on Friday, with Hobbs citing concerns about risky investments. Similar efforts in other states have also faced challenges.

A companion bill, SB1373, allowing the state treasurer to invest up to 10% of Arizona’s rainy-day fund in digital assets like Bitcoin, has not yet reached a final vote. Efforts in other states like Oklahoma, Montana, South Dakota, and Wyoming have stalled. North Carolina, however, passed a bill allowing crypto investments.

State-level efforts to create Bitcoin reserves come amid a push from US President Donald Trump and Republican lawmakers for a federal “Strategic Bitcoin Reserve.” Trump signed an executive order in March proposing a reserve and digital asset stockpile. The debate continues on the role of Bitcoin in government reserves.

Read more at Cointelegraph: Arizona governor vetoes bill to make Bitcoin part of state reserves