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- Gate July 2025 Transparency Report:
Accelerating Leadership in the Global Crypto Landscape!
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Unexpected Bitcoin Decision from the USA: Investment Plan Rejected, Chaos Ensued! - Koin Bulletin
Arizona, a state of the United States of America, has rejected a new bill that plans to invest in virtual currencies like Bitcoin (BTC).
Arizona Governor Katie Hobbs vetoed a bill that would grant the state treasury and retirement systems the authority to invest in cryptocurrencies. Hobbs stated that there is no room for Arizonans' retirement funds to be used in speculative virtual currencies. The bill passed through the state's Republican-majority Senate and House of Representatives on April 26, supported by two Republican lawmakers. Governor Hobbs had announced that she would not sign any other legislation until a funding solution aimed at protecting the state's healthcare services was provided.
The veto was met with a strong reaction in the cryptocurrency community. Bitcoin Magazine CEO David Bailey stated, "Let's remove Katie Hobbs, she has ruined Arizona" in a post. The bill had also been similarly raised in states like Iowa, Missouri, and Texas. However, for now, such proposals have not yet become law.
The developments in Arizona have reignited discussions about cryptocurrencies. Following the veto decision of the Governor of Arizona, some circles are questioning the potential of cryptocurrencies, while others argue that this technology could be an important investment tool in the future.