Arizona Governor Katie Hobbs has vetoed a bill aimed at establishing a Bitcoin reserve funded by seized digital assets, marking her third rejection of Bitcoin-related legislation this year. The bill, House Bill 2324, was criticized by Hobbs for potentially discouraging local law enforcement collaboration on asset forfeiture issues. The veto came after the Arizona House passed the legislation by a vote of 34-22. Hobbs previously rejected two Senate bills that sought to allocate up to 10% of state funds into Bitcoin and to allow the retention of seized assets in cryptocurrency rather than converting them to cash. Her concerns center on the volatility of cryptocurrency markets, which she deems unsuitable for public funds. Despite the repeated vetoes, experts suggest that Arizona's long-term outlook for adopting Bitcoin could change with future leadership that may be more open to cryptocurrency.

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