Arizona State Senator Wendy Rogers isn’t taking Governor Katie Hobbs’ veto lying down. After Hobbs squashed the groundbreaking bill to invest up to 10% of state assets in cryptocurrency, Rogers immediately promised to resurrect the legislation. The proposal, which passed with bipartisan support (31-25), would have made Arizona the first state with a formal Bitcoin reserve. With Bitcoin now exceeding $96,000, Rogers’ determination to push crypto initiatives suggests this battle is far from over.
Arizona State Senator Wendy Rogers isn’t backing down after Governor Katie Hobbs torpedoed her ambitious Bitcoin reserve bill. The Republican lawmaker’s response was swift and biting, declaring on social media that “Bitcoin doesn’t need Arizona. Arizona needs Bitcoin.” It’s the kind of defiant stance that’s becoming Rogers’ trademark in the crypto legislative arena.
The vetoed Senate Bill 1025 would have made Arizona the first state to establish a formal Bitcoin reserve, allowing up to 10% of state-managed assets to be invested in digital currencies. The bill cleared both legislative chambers with bipartisan support and a close 31-25 Senate vote. But Hobbs wasn’t having it. Not even close.
The Democratic governor shut down the proposal on May 2, citing concerns about putting state funds into what she called “untested” virtual currencies. Heaven forbid the state try something new. The decision particularly focused on protecting retirement funds, aligning perfectly with broader Democratic skepticism toward crypto integration in state finances. The governor’s veto letter to Senate President Warren Petersen emphasized safeguarding the Arizona State Retirement System. With global crypto regulations remaining inconsistent across jurisdictions, the governor’s cautious approach reflects wider regulatory uncertainty.
Rogers, undeterred and apparently immune to gubernatorial vetoes, has already committed to reintroducing the legislation in future sessions. Bitcoin’s current price of over $96,000 adds weight to her persistence. She’s got numbers on her side too, pointing to strong support among youth and independents for Bitcoin legislation.
The bill wasn’t just about investments – it also proposed creating a Digital Assets Strategic Reserve Fund for seized crypto assets from criminal activities. Talk about making lemonade from digital lemons.
The veto sparked mixed reactions in the legislature, with disappointment crossing party lines. Critics warn Arizona might miss the crypto boat entirely, while supporters of the governor’s decision praise her cautious approach to state investment strategies.
Meanwhile, other states are watching closely, as several have toyed with similar proposals but haven’t gotten as far as Arizona did.
Rogers remains the stubborn captain of this digital ship, determined to sail Arizona into cryptocurrency waters despite the gubernatorial headwinds. For now, the Grand Canyon State’s Bitcoin dreams are on hold – but if Rogers has her way, not for long.
