Arizona State Senator Wendy Rogers has announced her intention to refile the Strategic Bitcoin Reserve (SBR) bill in the next legislative session, following Governor Katie Hobbs' veto of the proposal. The bill, Senate Bill 1025, would have allowed the Arizona state treasurer to allocate a portion of the state's retirement funds to Bitcoin. Although it passed both chambers of the state legislature, Governor Hobbs rejected it, claiming digital currencies are 'untested' and risky for long-term savings.
Senator Rogers criticized the veto, emphasizing that Bitcoin has evolved beyond being a fringe innovation and is necessary for Arizona's financial future. She expressed hope that if the current governor vetoes the bill again, a future administration might support it. Meanwhile, it was revealed that the Arizona State Retirement System already has indirect Bitcoin exposure through corporate holdings.
Additionally, another proposal, Senate Bill 1373, which would allow Arizona to retain and manage cryptocurrencies acquired via seizures or asset appropriations, is still under consideration. Observers believe this bill may have a higher chance of being signed due to its administrative nature, but its fate remains uncertain given the governor's current stance.