Arizona Governor Katie Hobbs says she vetoed legislation that would prohibit municipalities from taxing residential cryptocurrency mining operations.
In a veto letter, the Democratic governor says she has struck down the bill over concerns it goes too far in restricting local policymakers from addressing issues that may arise from the innovative blockchain technology.
She also raised concerns that the way the bill defined blockchain technology was too broad.
Says Hobbs in her veto letter,
“This bill broadly defines ‘blockchain technology’ and prevents local policymaking concerning an emergent and potentially energy-intensive economic activity.
I look forward to working with the Legislature to find bipartisan solutions that support a thriving economy and technological innovation while engaging local stakeholders to create comprehensive and forward-thinking solutions. This bill fails to meet that standard.”
The legislation, SB 1236, was introduced by Arizona Senator Wendy Rogers, a member of the Republican party who has pushed for other pro-crypto laws.
The bill, in part, says,
“A city or town may not impose a tax or free on any person or entity for running a node on blockchain technology in a residence.”
Other pro-crypto legislation Rogers has introduced included one bill that would add BTC to the state’s list of things defined as legal tender.
Rogers also introduced a bill that would allow the state and local governments as well as school districts to pay employees in virtual currency if they request it.Don't Miss a Beat – Subscribe to get crypto email alerts delivered directly to your inbox
Check Price Action
Follow us on Twitter, Facebook and Telegram
Surf The Daily Hodl Mix
Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
Generated Image: Midjourney