Arizona Governor Rejects Two Crypto Bills, Approves Bitcoin ATM Regulations
Arizona Governor Katie Hobbs has vetoed two digital asset bills aimed at enhancing state engagement with cryptocurrencies while approving a policy to regulate Bitcoin ATMs.
- On May 12, Hobbs rejected Senate Bill 1373, which proposed a Digital Assets Strategic Reserve Fund to retain cryptocurrency from asset forfeitures.
- Hobbs cited "current volatility in cryptocurrency markets" as a reason for her veto, emphasizing the need to protect general fund dollars.
- This marks the second veto in May, following her rejection of Senate Bill 1025, which would have allowed the treasury to hold up to 10% in crypto assets.
- The Governor also vetoed Senate Bill 1024, which aimed to enable agencies to accept tax payments in cryptocurrencies.
Bitcoin ATM Approval
- On the same day, Hobbs signed House Bill 2387 into law, introducing consumer protection regulations for digital asset kiosks.
- Operators must display warnings about potential scams and ensure customers acknowledge these before transactions.
- New transaction limits are set at $2,000 for new users and $10,500 for established clients.
- Operators must provide customer support contact numbers on ATMs.