Arizona Governor Vetoes Bill to Limit Local Regulations and Taxes on Blockchain Node Operators
Arizona Governor Katie Hobbs has vetoed legislation that would have barred municipalities from taxing cryptocurrency mining operations.
In a Wednesday letter, Hobbs said that the bill SB 1236 seeks to tie the hands of local stakeholders in regard to crypto mining policymaking. She said:
"The bill broadly defined "blockchain technology" and prevents local policymaking concerning an emergent and potentially energy-intensive economic activity.”
The legislation, first introduced in January, aimed to revise sections of statutes pertaining to blockchain technology, largely reducing or eliminating regulation and taxation of node operators at the state level.
In other words, it wanted to ensure that taxes and fees imposed on blockchain mining node operators are a statewide concern and not a matter that can be decided at city, town, or county levels.
“A city or town may not impose a tax or fee on any person or entity for running a node on blockchain technology in a residence,” said the Senate version of the bill.
“The imposition of a tax or fee on a person or entity running a node on blockchain technology in a residence is of statewide concern and not subject to further regulation by a city or town.”
SB 1236 was sponsored by Arizona Senator Wendy Rogers, a member of the Republican party who is known for her crypto-friendly stance.
Rogers has also introduced legislation to make Bitcoin legal payment in Arizona and to allow state agencies to accept the cryptocurrency as a form of payment
Furthermore, the Senator has introduced two more crypto-related bills.
One bill, SB 1239, aims to allow state agencies to accept crypto as payment. Another, SB 1240, aims to exempt cryptocurrency from property taxes.
These bills are recorded as having
Read more on cryptonews.com
