Arizona Governor Vetoes Two Crypto Bills, Signs One Targeting ATM Fraud

On Monday, Arizona Governor Katie Hobbs vetoed two crypto-related bills aimed at expanding the state’s use of digital assets, while quietly signing an enforcement-heavy measure regulating crypto ATMs.Among the vetoed proposals was The bill did not authorize the use of public funds to acquire digital assets but proposed a framework for custody and management. Hobbs rejected it, citing market instability.“Current volatility in cryptocurrency markets does not make a prudent fit for general fund dollars,” Hobbs wrote in a Her veto followed last week’s While SB 1373 dealt with digital assets the state already possessed or seized, SB 1025 would have committed taxpayer-backed portfolios, including retirement savings, to acquire Bitcoin and other digital assets on the open market.With this rejection, Arizona joined at least On Monday, the Arizona Governor also nixed The official acknowledged the bill’s intention to insulate the state from volatility but said it “still leaves the door open for too much risk” in her Regulating ATMsThe only crypto-related legislation to win her signature was The new law mandates that kiosk operators display multilingual fraud warnings, issue receipts with transaction hashes and wallet addresses, and use blockchain analytics to avoid transferring funds to wallets flagged for fraudulent activity. It caps total transactions for new customers at $2,000 per day and $10,500 for existing customers at the crypto ATMs.The crypto ATM operators must offer 24/7 live customer support and document every transaction in compliance with anti-money laundering protocols, as per the bill.Despite vetoing the core crypto-forward bills this session, Hobbs has not shut the door entirely on digital asset regulation. On Wednesday, the governor That bill, led by House Commerce Committee Chairman Jeff Weninger, allows the state to retain unclaimed crypto in its original form, rather than liquidating it into fiat. Edited by