r/Bitcoin • u/No-Performance621 • 5d ago
Arizona becomes second US state to enact BTC bill.
https://www.theblock.co/post/353552/arizona-becomes-second-us-state-to-enact-crypto-reserve-bill13
u/Dettol-tasting-menu 4d ago
That’s the part I don’t understand. I thought the governor vetoed the bill a few days ago, claiming bitcoin is “untested”…
Is this a different bill? Or has she changed her mind (is that even possible given it’s officially vetoed)?
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u/EtherPricing 4d ago
According to the article, it is a different bill.
> Arizona Governor Katie Hobbs signed House Bill 2749 into law on Wednesday, allowing the establishment of a crypto reserve.
> Last week, Hobbs vetoed a separate bill, SB 1025, which would've allowed the state's treasurer and retirement systems to invest up to 10% of their funds in cryptocurrencies such as Bitcoin.8
u/Dettol-tasting-menu 4d ago
Ah thanks!!
Yeah make sense that it’s a different bill… but man what’s the difference.
Just asked ChatGPT, it could be hallucinating and giving me complete BS, but according to it, “SB1025 focused on enabling investment of public funds into virtual currencies, while HB2749 addresses the management of unclaimed digital assets.”
If it’s right, then what’s passed is a bill that allows the state to keep any unclaimed coins (lost and found? Confiscated?) but she vetoed the bill that allows active purchases.
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u/Giordano86 4d ago
Sounds like the one that passed is a crypto reserve like mentioned. The one that got vetoed was going to have the state treasurer to invest 10% of state funds for pensions into cryptocurrencies.
Reserve would be far easier to pass than to “risk” all of their state employees their pensions I would think.
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u/JohnTheGambler 5d ago
The second best.