Arizona Bill 1236, initially proposed in January, was vetoed by Arizona Governor Katie Hobbs on April 12 which was also her 100th day in office. The bill aims to alter some ordinances relating to blockchain technology, decreasing or doing away with state-level regulation and taxation of node operators in substantial portions.
According to the Senate version of the bill, counties would have been subject to the same limitations on node operators as cities and towns. Reflecting on the bill, it states, “A city or municipality may not impose a tax or fee on any person or entity for running a node on blockchain technology in a residence.”
It also added that, “Imposing a tax or fee on any person or entity operating a node on blockchain technology in a residence is of statewide concern and not subject to further regulation by any city or municipality.” Legislation aimed at making Arizona a pro-crypto regulatory climate for both corporations and individuals has been submitted by several of the state’s lawmakers.
Senator Wendy Rogers of Arizona, a Republican noted for her attempts at crypto legislation, was the original sponsor of SB 1236. In a resolution to declare cryptocurrencies a tax-exempt asset under the state’s constitution, state senator Wendy Rogers joined other lawmakers in recommending to the Arizona government that Bitcoin (BTC) be recognised as legal cash.
SB 1235 is a recent prominent bitcoin bill that Rogers sponsored. This law, which was submitted in January, seeks to make Bitcoin accepted in Arizona as legal cash. As of March 2023, the measure has not yet been signed into law or overridden by a veto.
Moreover, Rogers has introduced two other pertinent measures. SB 1239, one measure, would let state entities accept cryptocurrency as payment. A different bill, SB 1240, seeks to exclude cryptocurrencies from real estate taxes. These measures are noted as having crossed over, indicating that they have now been approved by the Senate of Arizona and are available for consideration by the House.
Although it is unknown if any area in Arizona has sought to implement crypto restrictions below the state level, other states like North Carolina have. Moreover, states like Montana, Arkansas, and Mississippi have taken action to ensure that discriminatory mining laws are completely abolished. These laws are to safeguard miners from exploitation and other potential unethical activities as well as to bring in more business and investing opportunities.