Katie Hobbs, the Governor of Arizona, has refused a legislative legislation to create a Bitcoin protection zone. Grand Canyon State joins Bitcoin’s list of US countries that have proven to be a legislative effort to direct the state investment.
The Governor of Hobbs says it is an investment that has been invested in Bitcoin, unnamed investment.
In the May 2 administrative letter, Governor Katie Hobbs, Governor of Arizona, refused to adopt digital assets as part of its official reserve.
Specifically, SB 1025 would have allowed Arizona Treasury to allocate 10%of management assets to Bitcoin and other virtual assets. The bill also proposed the establishment of the Digital Assets Strategic Preliminary Fund, designed to hold all seized encryption assets from crime and illegal operation.
Senator Arizona, in particular, led by HON. Warren Petersen approved the bill on April 29 to be the first state to establish the Bitcoin Protection Zone on April 29 on April 29.
But Hobbes, the Governor, rejected the provision of SB 1025, consistent with the opposition and approved management. Former Senate Senate Leaders, Senate Senate Leaders, have invested this decision to Senator Peterson and referred to the reliability of digital assets as an investment.
Arizona said:
Today I rejected the Senate Act 1025. The Arizona Retirement System is one of the strongest places in the United States because it sounds sound and invests in information. The Arizona’s retirement fund is not a place where the state attempts to invest untested as a virtual currency.
Following this development, Arizona is eliminated from the first US competition to create a Bitcoin protection zone with the Donald Trump administration to establish a crypto -friendly environment in the United States.
In 16 US states, we have introduced laws related to the production of Bitcoin protection structure. States like New Hampshire, North Carolina, have successfully passed the House of Representatives. Meanwhile, the states such as Oklahoma, Pennsylvania, North Dakota, Wyoming, Montana, South Dakota and current Arizona have rejected the proposed preliminary bill.
Overview of encryption market
The value of the total encryption market for the press time is $ 2.99 trillion after a 0.82% decrease last day. Meanwhile, the total trading volume is currently $ 477.7 billion.
Bitcoin, the best cryptocurrency, has rebounded for the past two weeks and is currently $ 96,011. Other highest cryptocurrency assets, including Ethereum, Solana and XRP, also followed major cryptocurrencies that reported 2.11%, 26.75%and 6.88%of last month.
Istock’s main image, TradingView chart
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