The governor of Arizona has rejected a bill that considers the US state to seize crypto assets in the fund.
Arizona Governor Katie Hubs vetoed the House Bill 2324 on Tuesday, stating that it had rejected the local implementation of working with the state on the seizure of digital assets by removing the assets seized from local circle powers. “
The state’s House voted for the bill during its third reading in May, but the Senate resurrected it in a re -thinking vote last month. The move was then approved by the House in the 34-22 vote on June 24.
The Governor’s veto may be subjected to a two -thirds vote through the House and the Senate, but it is unlikely to happen unless some legislators change their votes.
In this bill, the state was formed to manage any digital assets of the state “Bitcoin and Digital Asset Reserve Fund”.
Katie Hubs’ HB 2324 veto letters. Source: The office of the governor of Arizona
The bill imposed that the first $ 300,000 worth of criminal seizures would go to the Crypto Attorney General’s office.
More than 50 % is divided into AG, 25 % of the State General Fund, and 25 % into the new Reserve Fund.
Date of rejecting Hubs’ crypto bill
Hubs has vetoed other crypto bills that have made their way through the state’s house and the Senate.
In May, he vetoed the Senate Bill 1025, which would have formed Arizona’s Strategic BitCoin Reserve and allowed state treasury to invest up to 10 % in BitCoin (BTC), saying that crypto currency was “unstable investment”.
Related: Bitcoin blows up Arizona’s governor’s ‘ignorance’ after Bitcoin Bill Voto
He also vetoed the Senate Bill 1373, a strategic digital assets reserve bill, which also allowed the state to make treasury with seized assets.
🇺🇸 In which: Arizona Governor Katie Hubs vetoed the Reserve Fund Bill HB2324 in the state’s digital assets.
He claimed that the bill would prevent local law enforcement agencies from cooperating with the state on the confiscation of digital assets by removing the assets seized from local jurisdiction. pic.twitter.com/d4li2j8ash
– Cointelegraph (@Quintle Graph) July 2, 2025
Arizona Crypto Reserve Fund Bill
Three crypto bills have now been rejected by the governor of Arizona, and only one person has acquired it.
The Arizona House Bill 2749, which was implemented in May, sets the state treasury, setting up a reserve fund for Bitcoin and Digital Asset, to integrate crypto assets in Arizona’s financial and non -claimant property framework.
The race to pass the state’s crypto rules
Other US states are also considering bills that will produce storage reserves to Bitcoin and Crypto.
Last month, Texas Governor Greg Abbott signed a bill to create a Texas Strategic Butt Coin Reserve, a state -run fund that will hold BitCoin as part of the state’s long -term assets.
According to Bitcoin rules data, New Hampshire also passed a bill that could enable the state to “invest in cryptocurrency and precious metals,” while six other state legislators have bills on various stages of passing, which aims to make crypto reserves.
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