EddieJayonCrypto
5 May 25
Arizona State Senator Wendy Rogers plans to reintroduce the Strategic Bitcoin Reserve (SBR) bill in the next legislative session after Governor Katie Hobbs vetoed it. The bill would allow Arizona's state treasurer to allocate some retirement funds to Bitcoin. Despite the veto, Rogers remains committ...
Arizona State Senator Wendy Rogers plans to reintroduce the Strategic Bitcoin Reserve (SBR) bill in the upcoming legislative session despite its recent veto by Governor Katie Hobbs. The bill would permit Arizona’s state treasurer to allocate a portion of the state’s retirement funds to Bitcoin, reflecting a growing acceptance of cryptocurrency as a financial innovation.
Senator Rogers expressed disappointment over the veto, emphasizing that Bitcoin has matured beyond a fringe idea into a proven innovation, stating, “Politicians don’t understand that Bitcoin doesn’t need Arizona. Arizona needs Bitcoin.” She remains optimistic that a future governor may approve the bill, even suggesting that Governor Andy Biggs would support the initiative to protect state wealth using this 16-year-old innovation.
Interestingly, the Arizona State Retirement System already holds indirect Bitcoin exposure through investments in Strategy, the largest corporate Bitcoin holder, underscoring the state’s existing connection to the crypto market.
Although SB1025 is currently shelved, Arizona’s crypto legislative activity continues with Senate Bill 1373, which proposes managing cryptocurrencies seized or appropriated by the state. This bill does not involve retirement funds and may have a better chance of passing since it focuses on administrative management rather than investment. Governor Hobbs’ stance on this bill remains uncertain, but many observers believe it has a stronger likelihood of approval than the Bitcoin reserve bill.