Tyrosine protein phosphatase that dephosphorylates CDK complex and activate its kinase activity in vitro. Arsenate reductase that plays a major role in the reduction of arsenate to arsenite and arsenic retention in roots (PubMed:16567632). Has an in vitro and in vivo arsenate reductase activity (PubMed:16507083, PubMed:16766666, PubMed:22562211). Plays no role in arsenic metabolism (PubMed:22879969, PubMed:25464340). H2O + O-phospho-L-tyrosyl-[protein] = L-tyrosyl-[protein] + phosphate [glutaredoxin]-dithiol + arsenate + glutathione + H(+) = arsenite + glutathionyl-S-S-[glutaredoxin] + H2O Inhibited by NSC95397. Expressed in roots and at lower levels in shoots (at protein level). Expressed in leaves, stems and flowers. No visible phenotype under normal growth conditions, but plants show reduced root size when grown in presence of hydroxyurea (PubMed:20647223). No visible phenotype, but decreased accumulation of total arsenic in shoots (PubMed:16507083). No effect on arsenate sensitivity (PubMed:25099865). No effect on the accumulation of arsenate in roots, efflux of arsenite or uptake of arsenate, or the total arsenic accumulation in shoots (PubMed:22879969, PubMed:25464340). Binds 1 zinc ion which is not required for enzyme activity (PubMed:15329414). Plants silencing ACR2 show increased sensitivity to arsenate but not arsenite (PubMed:16567632). Belongs to the MPI phosphatase family. Truncated N-terminus.