Arizona Governor Vetoes Two Crypto Bills, Signs One Targeting ATM Fraud
Arizona Governor Katie Hobbs vetoed two crypto-related bills: Senate Bill 1373, which aimed to create a Digital Assets Strategic Reserve Fund, and Senate Bill 1025, allowing up to 10% of state treasury and retirement funds to be invested in Bitcoin and other digital assets. Hobbs cited market instability and potential risks to taxpayer-backed portfolios as reasons for the vetoes. Additionally, she rejected Senate Bill 1024, which would have permitted state agencies to accept crypto payments, due to concerns over volatility. The only crypto legislation signed was House Bill 2387, regulating crypto kiosks and ATMs with strict operational requirements. Hobbs also signed House Bill 2749, updating unclaimed property laws to include digital assets, allowing the state to retain unclaimed crypto in its original form.
