Arizona Governor Katie Hobbs has vetoed a bill that would have created a state-managed reserve fund using bitcoin and digital assets seized from criminal activity. This is the third time Hobbs has put an end to a bill seeking to establish a bitcoin reserve.

The latest Arizona bitcoin reserve bill, House Bill 2324, would have established a “Bitcoin and Digital Assets Reserve Fund”. The fund was to be managed by the Arizona State Treasurer and funded through digital assets seized in criminal cases.

Under the plan, the first $300,000 from seized digital assets would have gone to the Anti-Racketeering Revolving Fund (ARRF), and any remaining funds would be split: 50% to the…

Read more on bitcoinnews