Katie Hobbs, the governor of Arizona, has blocked two cryptocurrency proposals but approved a new law that tightens rules for Bitcoin
$103,199.03
ATMs.
On May 12, she signed House Bill 2387, which sets new requirements for crypto kiosk operators. The law is meant to prevent fraud and make crypto transactions more transparent for everyday users.
Under the new law, Bitcoin ATMs must display clear warnings in multiple languages about common crypto scams. Users will need to acknowledge these risks before making a transaction. Receipts must include key details such as transaction data, fees, refund terms, and contact information.
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The same day she signed the consumer protection bill, Hobbs rejected Senate Bill 1373. This bill would have set up a Digital Assets Strategic Reserve Fund, which would allow Arizona to store cryptocurrencies gained from seizures or approved through legislation.
Governor Hobbs said crypto markets are too unstable to justify using state funds in this way. She added that earlier legislation already allows the state to use crypto in limited ways that do not put public money at risk.
Another bill, Senate Bill 1024, also failed to pass. It would have let people pay taxes, fees, and fines using cryptocurrencies through approved payment providers. Although it tried to shield the state from crypto price swings, Governor Hobbs still found the risk too high.
On May 7, Governor Hobbs signed House Bill 27449 into law. What does the bill cover? Read the full story.
Having completed a Master’s degree in Economics, Politics, and Cultures of the East Asia region, Aaron has written scientific papers analyzing the differences between Western and Collective forms of capitalism in the post-World War II era.With close to a decade of experience in the FinTech industry, Aaron understands all of the biggest issues and struggles that crypto enthusiasts face. He’s a passionate analyst who is concerned with data-driven and fact-based content, as well as that which speaks to both Web3 natives and industry newcomers.Aaron is the go-to person for everything and anything related to digital currencies. With a huge passion for blockchain & Web3 education, Aaron strives to transform the space as we know it, and make it more approachable to complete beginners.Aaron has been quoted by multiple established outlets, and is a published author himself. Even during his free time, he enjoys researching the market trends, and looking for the next supernova.
