Arizona’s governor shuts down bill that favors crypto mining industry
Arizona Governor Katie Hobbs says she vetoed legislation that would have banned municipalities from taxing residential cryptocurrency mining.
In a veto letter, the Democratic governor says she rejected the bill because of concerns that it goes too far in limiting local policymakers from addressing issues that could arise from the innovative blockchain technology.
She also raised concerns that the way the bill defined blockchain technology was too broad.
Says Hobbs in his veto letter,
“This bill broadly defines ‘blockchain technology’ and prevents local policymaking regarding a new 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-looking solutions. This bill does not 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 states in part:
“A city or town may not impose any tax or charge on any person or entity to operate a blockchain technology node in a residence.”
Other pro-crypto legislation Rogers has introduced included a law that would add BTC to the government’s list of things defined as legal tender.
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.
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