Re: Everything you wanted to know about Bitcoin Strategic Reserve
Arizona Bitcoin bill has been rejected today by the Governor.
Governor Katie Hobbs uses the power of veto to stop the state from holding an official strategic Bitcoin Reserve, ending the possibility of Arizona from been the first state of all time in the US to have a Bitcoin Reserve. This is far the worst decision an executive head in a state could ever made, a decision she will surely regret in the future, when she had the best opportunity in grasp to move the state forward.
This is the speech from Katie Hobbs herself and a possible reason she rejected the Bitcoin reserve bill.
The Good news here is that the legislative houses have the exercising power to override Governor Katie Hobbs veto power in favour of the Bill, but it would require a two-thirds majority vote in both chambers of the state legislature . It is not certain yet if the state legislative chambers would want to do it but we can only hope they override her veto power by correcting her wrong decision in the favor of the state, otherwise there efforts in bringing the Bill to into law will be a waste of time and efforts.
Governor Katie Hobbs uses the power of veto to stop the state from holding an official strategic Bitcoin Reserve, ending the possibility of Arizona from been the first state of all time in the US to have a Bitcoin Reserve. This is far the worst decision an executive head in a state could ever made, a decision she will surely regret in the future, when she had the best opportunity in grasp to move the state forward.
This is the speech from Katie Hobbs herself and a possible reason she rejected the Bitcoin reserve bill.
The Good news here is that the legislative houses have the exercising power to override Governor Katie Hobbs veto power in favour of the Bill, but it would require a two-thirds majority vote in both chambers of the state legislature . It is not certain yet if the state legislative chambers would want to do it but we can only hope they override her veto power by correcting her wrong decision in the favor of the state, otherwise there efforts in bringing the Bill to into law will be a waste of time and efforts.
Maybe the current situation in the state of Arizona is in a financial crisis due to which the Bitcoin Reserve Bill was vetoed. However, it is likely to be re-launched very soon. Maybe this year's Arizona Reserve was suspended because this retirement fund was used to carry out investment activities here.
Since this Bitcoin Reserve Bill was created by vote, it is likely to be re-launched very soon. We will definitely get good news from Governor Katie Hobbs in a few days and they will launch the Bitcoin Reserve Fund again about Bitcoin.