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Katie Hobbs, the governor of Arizona, has vetoed a bill that would have significantly restricted local governments from levying taxes on individuals and businesses operating blockchain nodes.
In a decision made on April 12, Governor Hobbs rejected Arizona Bill 1236, which was initially presented in January. The proposed legislation sought to amend certain sections of laws related to blockchain technology, primarily aiming to lessen or eliminate the regulation and taxation of node operators at the state level.
“A city or town may not impose a tax or fee on any person or entity for running a node on blockchain technology in a residence,” stated the Senate engrossed version of the bill. “The imposition of a tax or fee on a person or entity running a node on blockchain technology in a residence is of statewide concern and not subject to further regulation by a city or town.”
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The bill would have extended the same limitations for cities and towns regarding node operators to counties as well. After receiving approval from both the Arizona Senate and House, the bill was forwarded to Hobbs, who vetoed it on her 100th day in office.
It was a great day celebrating the first 100 days of my administration with folks from across Arizona.
There’s so much more to do, but I’m excited about the foundation we’ve laid and where we’re going next.
Thank you, Arizona. #Hobbs100 pic.twitter.com/piL6GEXb9m— Governor Katie Hobbs (@GovernorHobbs) April 13, 2023
Related: Colorado governor says he expects state to accept tax payments in crypto by summer
Some lawmakers in Arizona have proposed legislation aimed at establishing a favorable regulatory environment for cryptocurrency for both businesses and individuals. State Senator Wendy Rogers suggested that the Arizona government recognize Bitcoin (BTC) as legal tender and collaborated with other legislators on a resolution to classify cryptocurrency as tax-exempt property under the state’s constitution.
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