Governor Katie Hobbs has vetoed two key bills in Arizona that aimed to establish a digital asset reserve and permit crypto payments. These vetoes, announced on May 13th, were driven by concerns regarding the volatility of the cryptocurrency market. This decision halts Arizona’s potential involvement in wider cryptocurrency adoption and prioritizes responsible management of state finances. Governor Hobbs cited the inherent instability of the cryptocurrency landscape as a primary reason for her vetoes. The move reflects a cautious approach towards integrating cryptocurrencies, aligning with past actions where she has also vetoed bills concerning Bitcoin funding.