Arizona Governor Katie Hobbs has taken a cautious stance on cryptocurrency legislation, vetoing multiple proposals that would have expanded the state’s involvement in the market. Her actions target bills seeking to hold cryptocurrencies like Bitcoin and Ethereum and establish a dedicated digital assets reserve fund. The governor cited volatility concerns for her rejection of these initiatives. Governor Hobbs further rejected two other bills: Senate Bill 1025, proposing to invest a portion of Arizona’s savings in Bitcoin, and Senate Bill 1024 which aimed to allow tax payments and fines to be processed using cryptocurrencies. However, she signed House Bill 2387, focused on regulating cryptocurrency ATMs within the state. This bill incorporates stringent requirements for operators including clear warnings about common scams, user acknowledgment of risks before transactions, detailed receipts with transaction details, and limits on daily transactions. The new law aims to enhance consumer protection and transparency related to Bitcoin kiosks in Arizona. Following these developments, Arizona is now one step closer to purchasing Bitcoin after its latest crypto regulation bill passed.