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Bitcoiners blast Arizona governor’s ‘ignorance’ after Bitcoin bill veto

Bitcoiners and United States government officials have criticized Arizona Governor Katie Hobbs’s decision to veto a bill that would have allowed the state to hold Bitcoin as part of its official reserves.

“This will age poorly,” Casa co-founder and cypherpunk Jameson Lopp said in a May 3 X post. Bitcoin (BTC) entrepreneur Anthony Pompliano said, “Imagine the ignorance of a politician to believe they can make investment decisions.”

Call for government officials who understand Bitcoin is “the future”

“If she can’t outperform Bitcoin, she must buy it,” Pompliano said. Crypto lawyer Andrew Gordon said, “We need more elected officials who understand that Bitcoin and crypto are the future.”

Arizona, United States
Source: Julian Fahrer

Wendy Rogers, who co-sponsored the bill with State Representative Jeff Weninger, also voiced her disappointment.

“Politicians don’t understand that Bitcoin doesn’t need Arizona. Arizona needs Bitcoin,” Rogers said.

On May 2, Hobbs vetoed the Arizona Strategic Bitcoin Reserve Act, which would have permitted Arizona to invest seized funds into Bitcoin and create a reserve managed by state officials. “Today, I vetoed Senate Bill 1025. The Arizona State Retirement System is one of the strongest in the nation because it makes sound and informed investments,” Hobbs said.

Arizona, United States
Source: Dr. Danish

Rogers said she would refile the bill during her next session. Rogers also pointed out that Arizona’s state retirement system already holds stocks of Michael Saylor’s Strategy (MSTR).

“Which is basically a leveraged Bitcoin ETF. Arizona’s Strategic Bitcoin Reserve bill will be back. HODL,” Rogers said. The stock price of Strategy rose 32% in April, the most significant monthly gain since November 2024.

Related: US gov’t actions give clue about upcoming crypto regulation

However, well-known crypto skeptic Peter Schiff sided with Hobbs. “The government should not be making decisions to use public funds to speculate in cryptocurrencies,” Schiff said.

Arizona would have become the first US state to establish a Bitcoin Strategic Reserve if it had passed.

Arizona joins several other US states where similar efforts have failed. Similar proposals in Oklahoma, Montana, South Dakota and Wyoming have stalled or been withdrawn recently.

Magazine: Bitcoin to $1M ‘by 2029,’ CIA tips its hat to Bitcoin: Hodler’s Digest, April 27 – May 3

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Trump has 11 on his Fed chair list, 3 may be crypto-friendly

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Trump has 11 on his Fed chair list, 3 may be crypto-friendly

Trump has 11 on his Fed chair list, 3 may be crypto-friendly

The Trump administration is considering 11 candidates to replace Jerome Powell; some have previously signalled a constructive stance toward crypto.

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112 crypto companies urge Senate to protect developers in market structure bill

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112 crypto companies urge Senate to protect developers in market structure bill

112 crypto companies urge Senate to protect developers in market structure bill

Coinbase, Kraken, Ripple, a16z and others pressed the Senate to add explicit protections for developers and non-custodial services in the market structure bill.

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After six months of planning, Reform’s immigration policy is as clear as mud

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After six months of planning, Reform's immigration policy is as clear as mud

Reform’s plan was meant to be detailed. Instead, there’s more confusion.

The party had grown weary of the longstanding criticism that their tough talk on immigration did not come with a full proposal for what they would do to tackle small boats if they came to power.

So, after six months of planning, yesterday they attempted to put flesh on to the bones of their flagship policy.

Politics latest: Farage rows back on pledge to deport illegal migrant women and girls

At an expensive press conference in a vast airhanger in Oxford, the headline news was clear: Reform UK would deport anyone who comes here by small boat, arresting, detaining and then deporting up to 600,000 people in the first five years of governing.

They would leave international treaties and repeal the Human Rights Act to do it

But, one day later, that policy is clear as mud when it comes to who this would apply to.

More on Nigel Farage

Nigel Farage launched an airport-style departures board to illustrate how many illegal migrants have arrived in the UK. Pic: PA
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Nigel Farage launched an airport-style departures board to illustrate how many illegal migrants have arrived in the UK. Pic: PA

I asked Farage at the time of the announcement whether this would apply to women and girls – an important question – as the basis for their extreme policy seemed to hinge on the safety of women and girls in the UK.

He was unequivocal: “Yes, women and children, everybody on arrival will be detained.

“And I’ve accepted already that how we deal with children is a much more complicated and difficult issue.”

But a day later, he appeared to row back on this stance at a press conference in Scotland, saying Reform is “not even discussing women and children at this stage”.

Read more:
Farage has a new ‘leave’ campaign – here’s how it could work

He later clarified that if a single woman came by boat, then they could fall under the policy, but if “a woman comes with children, we will work out the best thing to do”.

A third clarification in the space of 24 hours on a flagship policy they worked on over six months seems like a pretty big gaffe, and it only feeds into the Labour criticism that these plans aren’t yet credible.

If they had hoped to pivot from rhetoric to rigour, this announcement showed serious pitfalls.

But party strategists probably will not be tearing out too much hair over this, with polling showing Reform UK still as the most trusted party on the issue of immigration overall.

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