Arizona governor vetoes bill to stockpile seized crypto

Arizona Governor Katie Hobbs has vetoed a measure that would have created a fund from seized crypto, with proceeds split between law enforcement and the state.

The governor of Arizona has rejected a bill that would have seen the US state hold on to seized crypto assets in a fund.

Arizona Governor Katie Hobbs vetoed House Bill 2324 on Tuesday, stating in a letter that it “disincentivizes local enforcement from working with the state on digital asset forfeiture by removing seized assets from local jurisdictions.”

The state’s House voted the bill down during its third reading in May, but the Senate revived it in a reconsideration vote last month. The measure was then passed by the House in a 34-22 vote on June 24.

The governor’s veto could be overridden with a two-thirds vote by the House and Senate, but that appears unlikely to happen unless some lawmakers switch their vote.

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