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Arizona Governor Vetoes 
$BTC Legislation While Approving #Crypto ATM Regulations
Arizona Governor Katie Hobbs has vetoed two crypto-related bills that would have expanded the state's involvement with digital assets.
SB1373, which proposed establishing a Digital Assets Strategic Reserve Fund for seized or appropriated #crypto, was rejected due to market volatility concerns.
Hobbs previously vetoed SB1025, the "Arizona Strategic Bitcoin Reserve Act," which would have allowed up to 10% of state treasury and retirement funds to be invested in $BTC.
The governor also rejected SB1024, which would have permitted state agencies to accept #crypto payments for taxes, fines, and fees.
Despite these vetoes, Hobbs signed HB2387, implementing strict regulations for crypto ATMs, including fraud warnings, transaction caps, and compliance requirements.
Hobbs did approve HB2749 last week, which modernizes Arizona's unclaimed property laws to allow the state to retain unclaimed digital assets in their original form rather than converting them to fiat.
