Crypto & Blockchain News

Governor of Arizona Vetoes Bill Banning Local Taxes, Crypto Mining Fees


Hobbs’ letter implied that he had vetoed Senate Bill 1236. This legislation seeks to guarantee that the taxes and fees imposed on operators of blockchain mining nodes are a statewide issue, not a local or regional issue.

The law, according to Hobbs, β€œprevents the making of local policies regarding emerging and potentially energy-intensive economic activities.” He also stated that the bill failed to engage local stakeholders. As a result, its veto power allows tighter control over cryptocurrency mining.

Hobbs also stated that the bill’s description of blockchain technology is very broad. While it’s unknown whether any county in Arizona has attempted to enforce crypto restrictions at the city level, other states, such as North Carolina, have already done so.

Meanwhile, states such as Montana, Arkansas, and Mississippi have been working to have their discriminatory mining laws completely repealed.

Arizona Senator Wendy Rogers first proposed SB 1236, a Republican best known for her efforts to legislate cryptocurrencies. SB 1235, sponsored by Rogers, is another high profile cryptocurrency act. The law, presented in January, seeks to make Bitcoin legal money in Arizona. As of March 2023, the act had not been vetoed or passed into law.

Rogers also introduced two other important laws. SB 1239, for example, would allow state entities to accept cryptocurrencies as payment. SB 1240, on the other hand, seeks to exclude cryptocurrencies from property taxes. These bills are marked as crossed, indicating that they have passed through the Arizona Senate and are now ready for consideration by the House.

Hobbs, a Democrat, has also vetoed a number of non-Bitcoin-related proposals in recent weeks and months. It’s unclear why he hasn’t vetoed Roger’s other crypto proposals, or whether he will in the future.



Source link

Related Articles

Back to top button