Arizona broke new ground in what was the first competition between US states to establish crypto sanctuaries as a formal part of its fiscal strategy, and approved the law primarily with Republican lawmakers.
It is unclear whether Democrat Gov. Katie Hobbs will be viewed favorably by laws rejected by most Democrats. She rejected a long list of bills in this session, and if she refused this, the issue that year is closed.
If approved, Arizona’s inclusion of digital assets in public funding investments could even outweigh the US Treasury’s efforts to accomplish that.
Three Democrats voted in favor as the Arizona House passed the crypto-preservation effort with 31-25 votes on Monday.
But Hobbs is in a budget dispute with Republican lawmakers.
“The bill that is not yet on my desk will be rejected until there is a serious, bipartisan funding solution protecting health care for Arizonans with disabilities,” the governor said in a post on April 17th on social media site X.