In her veto letter, the governor acknowledged the use of crypto in state processes but emphasized that “current volatility” in the digital asset market makes it unsuitable for reserve fund planning.
In addition to SB 1373, Governor Hobbs also rejected Senate Bill 1024, which would have permitted Arizona state agencies to accept digital currency as a form of payment for fines and civil penalties.
Her veto cited the risks of enabling government institutions to operate directly within the crypto ecosystem, a view that has seen some bipartisan acknowledgment among lawmakers.
The rejection of SB 1024 follows a similar veto earlier in the month of SB 1025, which would have authorized Arizona’s state treasurer and retirement systems to allocate up to 10% of their portfolios in digital currencies.
Under HB 2387, kiosks must display consumer warnings about fraud, collect customer risk acknowledgment statements, provide transaction receipts, and enforce a $2,000 daily transaction cap for new users.
Additionally, kiosk operators must maintain 24/7 customer service to assist users and mitigate misuse, an element designed to safeguard vulnerable populations, especially seniors.
Featured image created with DALL-E, Chart from TradingView
