- Bitcoin in Arizona at finals, but Governor Katie Hobbs threatened to veto
- Katie Hobbs insists on prioritizing the consideration of social programs.
- Arizona is at the forefront of Bitcoin adoption, along with Oklahoma, Texas, and Florida
Adoption of Bitcoin in Arizona at finals, but Governor Katie Hobbs threatened to veto any funding solution before health care. Her priority on social programs could stall the Bitcoin bill movement unless a compromise is found. However, Arizona has already moved far with its SB1373, which would allow up to 10% of state funds to be invested in digital assets.
More on the Progress of SB1373 and the Potential Veto from Governor Katie Hobbs
It’s worth noting the significant progress that SB1373 has already made — and it’s quite substantial. In February, the bill went through three readings in the Senate, and during the third reading on February 27, it was passed with a vote of 17 in favor, 12 against, and 1 not voting.
On the same day, February 27, the bill was transmitted to the House of Representatives, where it had its first reading on March 6. It was then reviewed by the relevant committee, receiving 6 votes in favor and none against. Following that, the bill passed the House Rules Committee with unanimous support — a 9-0 vote.
As of now, the bill is awaiting its third reading and final vote in the House. However, Governor Katie Hobbs has issued a firm warning, signaling that her budgetary priorities lie elsewhere. Specifically, she wrote:
“Any bill not already on my desk will be vetoed until we have a serious, bipartisan funding solution that protects health care for Arizonans with disabilities.”
This is a strong statement, and it suggests that a compromise may be necessary. Without it, Arizona’s rapid progress toward Bitcoin adoption, along with other initiatives in states like Oklahoma, Texas, and Florida, could be stalled.
Conclusion
Let’s hope lawmakers can reach a workable compromise, allowing Arizona’s Bitcoin adoption efforts to continue and the broader map of U.S. Bitcoin adoption to keep expanding.
Still, as we’re seeing, this is neither a fast nor a synchronized process. It involves many variables, often unexpected, much like the crypto market itself. Stay tuned for updates, and be adaptive in the rapidly evolving regulatory, financial, and crypto landscape.
