Arizona Governor Vetoes Bill to Allow the State to Buy XRP, Bitcoin, Ethereum

In a move that has captured the attention of the crypto community and reignited the debate around digital asset adoption in public finance, Arizona Governor Katie Hobbs has vetoed a proposed bill that would have allowed the state to invest in cryptocurrencies such as XRP, Bitcoin (BTC), and Ethereum (ETH). Crypto commentator Xaif on X highlighted the development as part of a growing national discourse on how state governments engage with digital assets. BREAKING Today – Arizona, USA: Governor Katie Hobbs has vetoed a bill that would have allowed the state to invest in virtual currencies such as $XRP , $BTC , and $ETH . However, a second bill — SB1373 — is still under consideration. pic.twitter.com/1jdv3hulq4 — 𝕏aif | (@Xaif_Crypto) May 4, 2025 Governor Hobbs Blocks Public Crypto Investment The vetoed legislation was designed to authorize Arizona’s state treasury to allocate public funds toward holding cryptocurrencies in its investment portfolio. Supporters of the bill argued that it would place Arizona at the forefront of crypto innovation, aligning the state with others already exploring blockchain integration in public finance. However, Governor Hobbs chose not to sign the bill, reflecting a more conservative approach amid the broader regulatory uncertainty surrounding crypto assets. Missed Opportunity or Prudent Caution? Advocates of the bill viewed it as a step toward fiscal modernization—one that could have diversified the state’s holdings and leveraged the long-term value proposition of digital assets. Critics, however, raised concerns about the volatility and regulatory ambiguity of the crypto market. Governor Hobbs’ veto suggests a reluctance to expose public funds to such risks, at least without a more established regulatory framework. All Eyes on SB1373 While the vetoed bill marks a setback for digital asset adoption in Arizona, the conversation is far from over. A second bill—SB1373—is still under consideration in the Arizona legislature. Although the full scope of SB1373 has not yet been disclosed publicly, it is expected to reintroduce crypto-related financial mechanisms in a potentially revised form, which may be more aligned with the governor’s cautionary stance. We are on twitter, follow us to connect with us :- @TimesTabloid1 — TimesTabloid (@TimesTabloid1) July 15, 2023 A National Trend in State-Level Crypto Policy Arizona’s recent developments are part of a larger trend across the United States, where states are beginning to diverge in their approach to cryptocurrency regulation and adoption. States like Texas and Wyoming have openly embraced digital assets, implementing frameworks that support both innovation and investor protection. In contrast, states like Arizona remain more tentative, underscoring the fragmented nature of digital asset regulation in the U.S. The Road Ahead Governor Hobbs’ decision sends a clear message that, despite the growing legitimacy of digital assets, institutional adoption at the public level still faces political and regulatory headwinds. As SB1373 progresses, the crypto community will be watching closely to see whether Arizona decides to revise its approach or maintain its current level of caution. In the meantime, the vetoed bill serves as a reminder that while the technology may be ready, the policy frameworks are still catching up. Disclaimer : This content is meant to inform and should not be considered financial advice. The views expressed in this article may include the author’s personal opinions and do not represent Times Tabloid’s opinion. Readers are urged to do in-depth research before making any investment decisions. Any action taken by the reader is strictly at their own risk. Times Tabloid is not responsible for any financial losses. Follow us on Twitter , Facebook , Telegram , and Google News The post Arizona Governor Vetoes Bill to Allow the State to Buy XRP, Bitcoin, Ethereum appeared first on Times Tabloid .