Arizona Gov. Katie Hobbs vetoed legislation barring municipalities from taxing residential cryptocurrency mining operations, saying the measure seeks to tie the hands of local stakeholders.
Hobbs, a Democrat, quashed SB 1236, which would have characterized blockchain technology as a matter of statewide concern and not subject to county, city or town regulation. In this regard, the bill would have prohibited local governments from “imposing taxes or fees on any person or entity for running a node on blockchain technology in a residence.”
In a veto message dated Wednesday, Hobbs said the bill sought to restrict local policy making over ...
Learn more about Bloomberg Tax or Log In to keep reading:
Learn About Bloomberg Tax
From research to software to news, find what you need to stay ahead.
Already a subscriber?
Log in to keep reading or access research tools.