Governor of Arizona, Usa, Exercised veto on Digital asset reserve law…Prioritized bill for disability fund

The digital asset reserve bill of the state of Arizona in the United States was halted due to the governor's veto. According to DL News, Governor Katie Hobbs officially vetoed the bill, which passed the House last month on the 28th.

This bill contained provisions allowing the Arizona state government to reserve some digital assets as part of a financial strategy. However, the governor is steadfast in her stance that the processing of bills for the creation of a disability fund should take precedence, and for this reason, she is known to be exercising veto power over bills proposed by the House.

This decision is analyzed as potentially putting a damper on the flow of some states that were showing cryptocurrency-friendly movements. Arizona has been active in expanding the use of digital assets until recently, and it was reported that this bill was intended to authorize the state treasury to invest up to 10% in digital assets.

The exercise of the governor's veto also raises the possibility of changes in Arizona's digital asset policy direction in the future.