Hobbs’ letter implies that she has vetoed Senate Bill 1236. This law seeks to guarantee that taxes and levies levied on blockchain mining node operators are a statewide problem, rather than a local or regional issue.
The law, according to Hobbs, “prevents local policymaking concerning an emerging and potentially energy-intensive economic activity.” She also stated that the bill fails to involve local stakeholders. As a result, her veto might allow for more stringent control of cryptocurrency mining.
Hobbs also stated that the bill’s description of blockchain technology is extremely wide. Though it is unknown whether any region of Arizona has sought to implement crypto restrictions at the municipal level, other states, like North Carolina, have.
Meanwhile, states such as Montana, Arkansas, and Mississippi have tried to ensure that discriminatory mining laws are repealed completely.
Arizona Senator Wendy Rogers first proposed SB 1236, a Republican noted for her attempts at crypto legislation. SB 1235, sponsored by Rogers, is another high-profile cryptocurrency measure. The law, which was presented in January, seeks to make Bitcoin legal money in Arizona. As of March 2023, the measure had not been vetoed or passed into law.
Rogers has also introduced two other pieces of legislation that are important. SB 1239, for example, would enable state entities to accept cryptocurrency as payment. SB 1240, on the other hand, seeks to exclude cryptocurrencies from property taxes. These bills are marked as having crossed over, indicating that they have passed the Arizona Senate and are now ready for consideration by the House.
Hobbs, a Democrat, has also vetoed a number of proposals unrelated to Bitcoin in recent weeks and months. It’s unclear why she hasn’t vetoed Roger’s other crypto proposals, or whether she would in the future.
