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Arizona Governor Katie Hobbs has vetoed a bill that would prohibit municipalities from taxing residential cryptocurrency mining operations.
In a veto letter, the Democratic governor says she rejected the bill because she is concerned it goes too far in restricting local policymakers from addressing issues that could arise from the innovative blockchain technology.
She also worried that the way the bill defined blockchain technology was too broad. In her letter of veto, Hobbs says:
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“This bill broadly defines ‘blockchain technology’ and prevents local policy making related to an emerging 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 and engage local stakeholders in creating comprehensive and forward-thinking solutions. This bill does not meet that standard.”
The legislation, dubbed SB 1236, was introduced by Arizona Republican Senator Wendy Rogers, who has advocated for other pro-crypto laws. The bill says, among other things:
“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 residential property.”
Other pro-crypto legislation Rogers has introduced has included a bill that adds Bitcoin (BTC) to the list of things defined as legal tender in the state.
Rogers also introduced a bill that would allow state and local governments, as well as school districts, to pay employees in virtual currency if they request it.
The post Governor of Arizona scraps bill in favor of crypto industry appeared first on CryptoBenelux.
