The Governor of Arizona vetoed two encryption bills and signed a bill against ATM fraud.

PANews reports on May 13 that Arizona Governor Katie Hobbs vetoed two crypto-related bills on Monday, including SB 1024, which establishes a digital asset strategic reserve fund, and SB 1373, which allows government agencies to accept crypto payments. In her veto letter, Hobbs stated that the volatility of the crypto market is too high to be suitable as a public funds allocation option. Previously, she vetoed SB 1025, which allowed the state treasury to allocate 10% of its funds to Bitcoin, making the state the 10th in the U.S. to veto similar proposals. Hobbs has also signed HB 2387, which proposes to strictly regulate crypto ATMs, requiring operators to provide multilingual fraud alerts, transaction hash receipts, and imposing a daily transaction limit ($2,000 per day for new users and $10,500 per day for existing users). However, Hobbs just signed Bill 2749 last week, which allows the government to take custody of unclaimed digital assets in their original form, indicating that it remains cautiously open to crypto regulation.