Arizona Governor Katie Hobbs has vetoed a bill that would significantly prevent local governments from taxing individuals and companies running blockchain nodes.
In a decision of April 12, Governor Hobbes issued Veto on Arizona Bill 1236, first introduced in January. The law aims to revise sections of the law related to blockchain technology, significantly reducing or eliminating regulation and taxation of node operators at the state level.
“Cities and towns should not impose taxes or fees on individuals or entities to run blockchain technology nodes in their homes.” Said The version of the bill that the Senate went crazy for. “Imposing taxes or fees on individuals or entities running blockchain technology nodes in residential homes is a matter of statewide concern and is not subject to further regulation by cities or towns.”
Under the bill, the same restrictions that cities and towns had on node operators would apply to counties. Following approval in the Arizona Senate and House of Representatives, lawmakers sent the bill to Hobbes’ desk, and Hobbes vetoed the law on his 100th day in office.
It was a great day celebrating the first 100 days of my administration with people all over Arizona.
We still have a lot of work to do, but I’m excited about the foundation we’ve laid and where we’re headed next.
— Governor Katie Hobbs (@GovernorHobbs) April 13, 2023
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Some Arizona legislators have introduced legislation aimed at making the U.S. state a regulatory environment that promotes cryptocurrencies for both businesses and individuals. State Senator Wendy Rogers proposes to allow the Arizona government to accept Bitcoin (BTC) as legal tender and joins other lawmakers in voting to make cryptocurrencies tax-exempt under the state constitution. I participated.
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