Arizona Governor Katie Hobbs has vetoed a bill that aimed to prevent local governments from imposing taxes and fees on crypto mining. The veto allows for more refined regulation of crypto mining activity and prevents the bill from preventing local policymaking concerning an emerging economic activity. The bill in question, SB 1236, was sponsored by Arizona Senator Wendy Rogers and intended to ensure that taxes and fees imposed on blockchain mining node operators are a statewide concern, rather than a matter of city, town, or county levels. Hobbs’ veto protects the interests of local stakeholders and avoids an overly broad definition of blockchain technology. Senator Rogers also sponsored another cryptocurrency bill that recognizes Bitcoin as legal tender in Arizona, but this has not yet been vetoed or enacted. Governor Hobbs, a Democrat, has vetoed several bills unrelated to cryptocurrency in recent weeks and months.
