Arizona Governor Katie Hobbs vetoed two proposed cryptocurrency bills on Monday, citing the volatility of the crypto market and the potential risk to state funds.
One of the vetoed proposals, Senate Bill 1373, aimed to create a strategic reserve fund using seized crypto assets.
In her veto letter, Hobbs said she had already approved legislation allowing crypto use without endangering state funds. She emphasized that current crypto market instability makes it unsuitable for general fund integration.
The second rejected bill, Senate Bill 1024, would have allowed state agencies to accept cryptocurrency as payment for fines and civil penalties.
Although she blocked these measures, Hobbs recently signed House Bill 2749, which creates a reserve fund for unclaimed crypto assets that may be used later with legislative consent.
This distinction suggests Hobbs is open to limited, regulated crypto adoption—but remains cautious about broader state-level integration.
Kosta Gushterov
Reporter at Coindoo
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Source: https://coindoo.com/arizona-governor-vetoes-crypto-bills-over-volatility-concerns/