crypto news Texas bright tones sixties retro futuristic illustration

crypto news Texas bright tones sixties retro futuristic illustration

Governor of Arizona Katie Hobbs has vetoed the blockchain technology tax fee prohibition bill SB 1236 introduced by senator Wendy Rogers because the legislation will hamper policymaking regarding the state’s web3 space.

Governor Katie Hobbs of Arizona has vetoed bill SB 1236, which aims to prohibit the state from imposing taxes on crypto mining activities and blockchain node operations. 

SB 1236 aims to bar local governments from prohibiting or restricting residents from running a blockchain node for mining activities.

In a letter addressed to Senate President Warren Peterson on April 12, Governor Hobbs clarified that the vetoed bill’s definition of blockchain technology is too broad and may hamper policymaking efforts concerning an “emergent and potentially energy-intensive economic activity.”

Despite vetoing SB 1236, Gov. Hobbs has reiterated that she’s open to collaborating with the Legislature to find innovative solutions supporting the state’s thriving economy while engaging local stakeholders to formulate such solutions.

 In Jan., senators Wendy Rogers, Sonny Borrelli, and Justine Wadsack proposed bill SB 1240, which is aimed at introducing property tax exemptions for crypto. The Senate approved the bill. Now the House will look into it.

Follow Us on Google News

Leave a Reply

Your email address will not be published. Required fields are marked *