According to Decrypt, Arizona Governor Katie Hobbs vetoed two cryptocurrency related bills on Monday, including the SB 1024 bill to establish a digital asset strategic reserve fund and the SB 1373 bill to allow government agencies to accept encrypted payments. Hobbs stated in the rejection letter that the volatility of the cryptocurrency market is too high and not suitable as an option for public fund allocation. Previously, she had vetoed the SB 1025 bill that allowed state finances to allocate 10% of their funds to Bitcoin, making the state the 10th in the United States to veto a similar proposal.
Hobbs also signed the HB 2387 bill, which aims to strictly regulate encrypted ATMs, requiring operators to provide multilingual fraud warnings, transaction hash receipts, and implement daily transaction limits ($2000/day for new users and $10500/day for existing users). However, Hobbs just signed Act 2749 last week, allowing the government to keep unclaimed digital assets in their original form, demonstrating its cautious and open attitude towards cryptocurrency regulation.
