Arizona governor vetoes bill banning local taxes, fees on crypto mining

Arizona Governor Katie Hobbs has vetoed a law aimed at preventing local governments from taxing cryptocurrency mining operations. April 12.

Veto is intended to allow cryptocurrency mining taxes, fees

Hobbes’ letter shows that she rejected the bill specified SB1236The bill aims to ensure that taxes and fees imposed on operators of blockchain mining nodes are a statewide concern, not an issue that can be decided at the city, town, or county level. is.

Hobbs wrote that the bill “hampers local policymaking on emerging and potentially energy-intensive economic activities.” She added that the bill fails to engage local stakeholders. As such, her veto power could allow for finer-grained regulation of cryptocurrency mining.

Hobbs also writes that the bill defines blockchain technology too broadly.

It is unclear if any part of Arizona has tried to ban cryptocurrencies below the state level, but other parts of the state, such as North Carolina, have done so.

Meanwhile, states such as Montana, Arkansas and Mississippi are taking steps to completely eliminate discriminatory laws against mining.

Bill was originally sponsored by Rogers

SB 1236 was originally sponsored by Arizona Senator Wendy Rogers. She is a member of the Republican Party known for her attempts at legislation on cryptocurrencies.

Mr. Rogers recently sponsored another high-profile cryptocurrency bill called SB 1235. The bill, introduced in January, aims to recognize Bitcoin as legal tender in Arizona. The bill has not been vetoed or enacted into law as of March 2023.

Rogers also introduced two other related bills. One bill, SB 1239, aims to enable state agencies to accept cryptocurrencies as payment. Another SB 1240 aims to exempt virtual currencies from property taxes. These bills are recorded as having crossed over. That means it has passed the Arizona Senate and is now available for consideration in the House of Representatives.

Hobbes, a Democrat, also vetoed. some other bills It has nothing to do with cryptocurrencies in recent weeks and months. It is unclear why she has refrained from vetoing Roger’s other cryptocurrency bills, or plans to do so in the future.

Fees for cryptocurrency mining first appeared on CryptoSlate after the governor of Arizona rejected a bill banning local taxes.

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