Arizona Governor Katie Hobbswith confiscated crypto coins “Bitcoin $107,778.07 and Digital Assets Reserve Fund ” House Bill 2324vetoed. The bill devoted the first 300 thousand dollars to the Chief Public Prosecutor’s Office, the remaining amount was divided into the Chief Public Prosecutor’s Office, the state general budget and the new fund with a formula of 50-25-25 percent. Hobbs presented the reason for the withdrawal of assets from local law enforcement units would deterrence. The Assembly had spent the bill with 34-22 votes, but the vote after the veto does not seem possible.
Hobbs: The draft is not acceptable in its current form
Hobbs, while explaining his decision, local police organizations want to be active in crypto currency investigations emphasized. He added that if the fund is moved to the state level, the budgets of local administrations will weaken.
The veto decision of the Governor of Arizona in May Senate Bill 1025He’s following his rejection. The bill in question ArizonaHe was authorized to invest up to 10 percent of his cash reserves to Bitcoin. Hobbs described it as an adequate investment side of crypto money at that time.
The governor also seized again in May crypto currencyproposing the creation of a separate reserve from Senate Bill 1373He turned it down by veto. Although House Bill 2749By signing the door to the management of crypto currencies kept in the treasury with certain arrangements, but this regulation does not include the “confiscated” assets. Therefore, Hobbs stands on the crypto currency side of the cautious but not completely opposed.
Crypto currency world is discussing HobBS’s decision
Hobbs’s veto caused different views in the crypto currency world. Some think that the prudent attitude of the state will provide a more robust ground in the long run. Others argue that a model that local organizations do not receive shares may increase the public interest and find the reasons offered by the governor inadequate. Commentator Frank Corva He said that the law enforcement officers should be questioned to move with a reward logic.
Arizona’s attitude TexasBitcoin reserves for the state treasury plan and New HampshireIt contrasts to the law that allows crypto currency investments. Six states in the US are discussing more similar initiatives. Hobbs’ decision Senate Bill 1062 As it makes the future of the bills that are still on the table, such as, shows that crypto monetary policies differ among the states.
Responsibility Rejection: The information contained in this article does not contain investment advice. Investors should be aware that crypto currencies carry high volatility and thus risk and carry out their operations in line with their own research.
