Arizona has just rejected an ambitious law focused on the integration of bitcoins into his official reserves. While several states are exploring this bold trail, Governor’s Governor Veta Hobbs will launch a national debate on the future of BTC in public proceedings and institutional finances.
In short
- Governor Arizona against his veto against the bill on integration of bitcoins into his reserves.
- The second similar project is still waiting, while other states like North Carolina Advance.
- The debate on institutional acceptance of bitcoins intensifies at the state and federal levels.
Arizona refuses to integrate bitcoins into their reserves
Stop Bitcoins in Arizona. Democratic governor Katie Hobbs against her veto against her veto against the strategic reserve of digital accounts (SB1025) on Friday, which would allow the state to invest part of its funds seized in BTC. Arizona could have become the first US state to integrate cryptocurrency into its official reserves.
The text, which voted in April in the representatives of the House of Foreign Affairs (31 votes for, 25 against), proposed to create a bitcoin strategic fund managed by public officials. Hobbs, however, categorically rejected this approach. ”The Arizonian pension system is one of the strongest in the country because it is based on cautious and enlightened investments. Arizonian pension funds are not an experimentation basis for untested virtual assets“She told the President of the Local Senate.
Another waiting initiative
The second SB1373 project, which would assign up to 10 % of the state emergency reserve fund in digital assets such as Bitcoins, is still waiting for the final vote. Arizona thus joins other countries such as Montana, South Dakota or Oklahoma, where similar initiatives failed. But dynamics continues elsewhere
North Carolina took a step with the adoption of its Chamber for the Investment Act on Digital Astimbs and allowed an investment of 5 % of certain funds in cryptocurrencies. The project is now in the hands of the local Senate. Federally, Trump’s administration also pushes the creation “Bitcoin strategic reserve», Through a decree signed in March.
Therefore, the battle for institutional bitcoin is far from being completed. If Arizonian brakes, other states such as California, invest massively in BTC events in the strategy. Bitcoin is gradually introduced into American budget debates between political caution and strategic vision. Accepting the state is no longer a question “if“But”When».
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The world is evolving and adaptation is the best weapon that survives in this undulating universe. I am interested in everything about blockchain and its derivatives. To share my experience and promote an area that fascinates me, nothing better than writing informative and relaxed articles simultaneously.
Renunciation
The words and opinions expressed in this article are involved only by their author and should not be considered investment counseling. Do your own research before any investment decision.
