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Arizona governor kills two crypto bills, cracks down on Bitcoin ATMs

Arizona Governor Katie Hobbs vetoed two key cryptocurrency-related bills that aimed to expand the state’s involvement in digital assets while signing a strict regulatory measure targeting Bitcoin ATMs.

On May 12, Hobbs rejected Senate Bill 1373, which sought to establish a Digital Assets Strategic Reserve Fund. The fund would have allowed Arizona to hold crypto assets obtained through seizures or legislative allocations.

“Current volatility in cryptocurrency markets does not make a prudent fit for general fund dollars,” she stated in her veto letter. “I have already signed legislation this session which allows the state to utilize cryptocurrency without placing general fund dollars at risk,” she added.

That decision followed her veto of Senate Bill 1025 — the more ambitious “Arizona Strategic Bitcoin Reserve Act” — on May 3. It would have authorized up to 10% of the state’s treasury and retirement funds to be invested in Bitcoin and other digital assets.

According to data from bitcoinlaws.io, 26 US states have introduced strategic crypto reserve bills, with 18 of them currently active.

Hobbs also vetoed Senate Bill 1024, which would have permitted state agencies to accept cryptocurrency payments for taxes, fines and fees via approved service providers.

Although the proposal attempted to shield the state from direct exposure to price volatility, Hobbs said it still introduced “too much risk.”

Arizona governor kills two crypto bills, cracks down on Bitcoin ATMs
Source: State of Arizona, Office of the Governor

Related: Taiwan lawmaker calls for Bitcoin reserve at national conference

Hobbs approves Bitcoin ATM bill

On May 12, Hobbs approved House Bill 2387, which introduces new consumer protection rules for cryptocurrency kiosk (ATM) operators, aiming to reduce fraud and improve transparency.

The bill mandates that kiosks display clear, multilingual warnings about common crypto scams and require users to acknowledge these risks before completing transactions. Operators must also provide detailed receipts that include transaction data, contact information, fees and refund policies.

Furthermore, the bill caps transactions at $2,000 per day for new customers and $10,500 per day for returning users after 10 days. Kiosk providers must also offer 24/7 toll-free customer service and post the number visibly on each machine.

Under the bill, if a new user is tricked into sending crypto under false pretenses and reports it with proof within 30 days, they are entitled to a full refund, including fees.

According to CoinATMRadar, there are currently 20 active Bitcoin ATMs in Arizona.

Notably, Hobbs has not entirely closed the door on digital assets. On Wednesday, she signed House Bill 2749, which updates Arizona’s unclaimed property laws to include digital assets.

The legislation allows the state to retain unclaimed cryptocurrencies in their original form rather than liquidating them into fiat currency.

Magazine: Bitcoin eyes ‘crazy numbers,’ JD Vance set for Bitcoin talk: Hodler’s Digest, May 4 – 10

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Coinbase claims ‘key role’ in Secret Service’s biggest-ever crypto seizure

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Coinbase claims ‘key role’ in Secret Service’s biggest-ever crypto seizure

Coinbase claims ‘key role’ in Secret Service’s biggest-ever crypto seizure

Coinbase says it helped the US Secret Service seize $225 million in crypto allegedly stolen by scammers, the largest crypto seizure in the agency’s history.

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Many senators absent from ‘bipartisan’ crypto market structure hearing

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Many senators absent from ‘bipartisan’ crypto market structure hearing

Many senators absent from ‘bipartisan’ crypto market structure hearing

Only five US senators out of the 11 typically on the digital assets subcommittee were available to ask questions about a potential market structure bill.

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UK to buy F-35 stealth jets that can carry US nuclear warheads as global insecurity grows

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In dramatic move, UK to buy F-35 stealth jets that can carry US nuclear warheads

The UK will buy at least 12 F-35 stealth jets that can carry nuclear warheads in the most significant strengthening of its nuclear capability in a generation, the government has said.

Today, Sir Keir Starmer will tell a summit of NATO allies in The Hague that the new squadron will join an alliance mission that can be armed with US nuclear weapons.

The dramatic move will doubtless draw condemnation and concern from Russia and China.

But it comes at a time of growing global insecurity – and as the prime minister and his European and Canadian counterparts scramble to convince Donald Trump they are serious about bolstering their ability to defend Europe, instead of overly relying on the United States.

The US president, a long-standing NATO sceptic, raised questions about whether he would uphold the alliance’s founding Article 5 principle – that an attack on one is an attack on all – before he even arrived in the Dutch city last night.

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‘There’s numerous definitions of Article 5’

An urgent need to keep Mr Trump on side has prompted NATO allies to agree to increase spending on defence and national resilience to a new target of 5% of GDP by 2035.

As part of this push to rearm, Sir Keir will give the Royal Air Force the ability to carry airborne nuclear warheads for the first time since the 1990s.

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“In an era of radical uncertainty we can no longer take peace for granted,” he said.

“These F-35 dual capable aircraft will herald a new era for our world-leading Royal Air Force and deter hostile threats that threaten the UK and our allies.

“The UK’s commitment to NATO is unquestionable, as is the alliance’s contribution to keeping the UK safe and secure, but we must all step up to protect the Euro-Atlantic area for generations to come.”

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What is NATO’s 5% defence spending goal?

It was not immediately clear when the F-35 jets would be bought or how much they will cost, but the new squadron will be part of a NATO-led nuclear deterrence mission.

That is in contrast to the UK’s national nuclear deterrence, based on a fleet of four nuclear-armed submarines, though they too are used to defend the whole of the alliance.

Mark Rutte, the head of NATO, applauded the plan – saying: “The UK has declared its nuclear deterrent to NATO for many decades, ​and I strongly welcome today’s announcement that the UK will now also join NATO’s nuclear mission and procure the F-35A.

“This is yet another robust British contribution to NATO.”

Keir Starmer watches a demonstration by troops as he visits the Netherlands marines training base.
Pic: AP
Image:
Sir Keir watches a demonstration by troops as he visits the Netherlands marines training base. Pic: AP

Aircraft operated by a small number of NATO countries, including Belgium, Germany and the Netherlands, are cleared to carry US-provided nuclear weapons in a war.

The RAF and the Royal Navy already operate F-35B jets that can fly off Britain’s two aircraft carriers, but they are not equipped to drop nuclear warheads.

The new planes will be the F-35A variant, operated by the air force, that take off from land but can fly further and be armed with nuclear or conventional weapons.

The government said they would all be based together at RAF Marham in Norfolk.

The government has long planned to purchase a total of 138 F-35 aircraft, but has so far only acquired around three dozen – seven years since the first jets entered service.

The decision to purchase 12 of the A-variant does not mean extra aircraft.

It just means a diversification in the fleet – something the RAF has long been pushing for – though it’s a decision some in the Royal Navy have long pushed back against, believing it would reduce even further the number of the B-version that operate from their carriers.

Read more:
PM warns of ‘era of radical uncertainty’
Podcast – What is NATO without America?

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Is the UK preparing for war?

The government described the plan to purchase nuclear-capable aircraft as the “biggest strengthening of the UK’s nuclear posture in a generation”.

Defence Secretary John Healey said a major defence review published earlier in the month highlighted new nuclear risks.

“It recommended a new UK role in our collective defence and deterrence through a NATO-first approach,” he said.

However, the public version of the Strategic Defence Review stopped short of making any specific recommendation.

It merely said “the UK must explore how to support the US and its NATO allies in strengthening extended deterrence across the Euro-Atlantic”.

The F-35 aircraft is made by the US defence giant Lockheed Martin, but the British defence company BAE Systems is also a key contributor.

The order will support 20,000 jobs in the F-35 programme in the UK.

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