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Arizona nixes crypto bills and approves Bitcoin ATM oversight.
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Arizona Governor Katie Hobbs has resisted two major crypto-focused bills that would have increased the state’s participation in the crypto market.
Governor Hobbs vetoed Senate Bill 1373. The bill would have seen Arizona hold cryptos like Bitcoin and Ethereum and establish a digital assets strategic reserve fund. However, Hobbs argued that the volatile nature of cryptocurrencies made such a move risky.
Earlier this month, Governor Hobbs rejected Senate Bill 1025, also known as the Arizona Strategic Bitcoin Reserve Act. The bill sought to use up to 10% of Arizona’s savings and retirement fund to invest in Bitcoin. However, Hobbs rejected the bill, citing volatility risks. She also said no to a third bill (SB 1024) that would have let people pay taxes or fines using crypto.
“Today, I vetoed Senate Bill 1024. While this bill would allow state agencies to enter into agreements to protect the state from risks associated with cryptocurrency, legislators on both sides of the aisle acknowledged it still leaves the door open for too much risk,” she wrote in her veto letter.
Hobbs Signs Crypto ATM Bill
Despite rejecting other key crypto bills, Governor Hobbs approved House Bill 2387. The new law is aimed at tightening consumer protection around cryptocurrency ATMs in the state. The legislation introduces several safety requirements designed to reduce fraud and increase transparency for users of Bitcoin kiosks.
HUGE BREAKING: ARIZONA #BITCOIN RESERVE BILL PASSES FINAL VOTE AND HEADS TO GOVERNOR
THE STATE IS 1 SIGNATURE AWAY FROM BUYING BTC. HISTORY
pic.twitter.com/L666H04NmB
— The Bitcoin Historian (@pete_rizzo_) April 28, 2025
Under the new law, crypto ATM operators must display clear warnings about common cryptocurrency scams in multiple languages. Before completing any transaction, users are required to acknowledge these warnings, confirming that they understand the risks involved. Receipts must now include full transaction details, such as fees and refund policies.
#Crypto Bills Vetoed in Arizona; #Bitcoin ATMs Hit $2K Cap – Here’s the Risk
SB 1373 and SB 1024 #crypto bills were vetoed, but a strict #Bitcoin ATM law was passed in Arizona. Is the state playing it safe or falling behind in #crypto innovation?$BTC pic.twitter.com/ilQJupjxXa
— CryptOpus (@ImCryptOpus) May 13, 2025
The law also places strict transaction limits. New customers can only send up to $2,000 per day through the machines, with a higher daily cap of $10,500 allowed after 10 days of usage. Operators must provide round-the-clock, toll-free customer service and make this contact information visible on the machines themselves.
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May 14, 2025 at 06:26AM
May 14, 2025 at 06:30AM
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