Arizona Governor Vetoes Crypto Bills Over Risk Concerns
Arizona Governor Katie Hobbs has blocked two cryptocurrency-related bills, signaling caution toward integrating digital assets with state operations. The vetoes highlight regulatory hesitancy despite growing legislative interest in crypto adoption.
Senate Bill 1373, which proposed creating a state reserve fund from seized crypto assets, was rejected due to concerns about tethering public finances to volatile markets. The governor’s office cited unacceptable risk exposure without specifying which cryptocurrencies raised red flags.
The MOVE comes as institutional adoption faces regulatory speed bumps nationwide. Arizona’s rejection contrasts with states like Wyoming that have embraced blockchain infrastructure, creating geographic fragmentation in U.S. crypto policy.
