Arizona Governor Katie Hobbs has vetoed a bill that would have allowed the state to hold Bitcoin as part of its official reserves, effectively ending efforts to make Arizona the first US state to adopt such a policy.

The Digital Assets Strategic Reserve bill, which would have permitted Arizona to invest seized funds into Bitcoin (

Another Bitcoin awaits final vote

A companion bill, SB1373, which would authorize the state treasurer to allocate up to 10% of Arizona’s rainy-day fund into digital assets like Bitcoin, has not yet reached a final vote.

Arizona joins several other states where similar efforts have failed. In recent months, similar proposals in Oklahoma, Montana, South Dakota and Wyoming have stalled or been withdrawn.

In contrast, North Carolina’s House passed the Digital Assets Investment Act on April 30, allowing the state treasurer to invest up to 5% of certain funds in approved cryptocurrencies. The bill has now been moved to the state Senate for consideration.

The state-level efforts to create Bitcoin reserves come amid a push from US President Donald Trump and Republican lawmakers to do the same in the federal government. 

Trump signed an executive order in March with a proposal for a “Strategic Bitcoin Reserve” and a “Digital Asset Stockpile.”

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