a16z CEO Chris Dixon revealed that the VC firm has billions left in its most recent crypto fund which are yet to be deployed.

Arizona Governor Vetoes Bill Aimed at Removing Taxes on Bitcoin Mining

  • Arizona has been one of the states working to become a pro-crypto and bitcoin region in the US.
  • The bill would have prevented local authorities from taxing companies and people running blockchain nodes.

Arizona’s governor, Katie Hobbs, exercised her veto power over legislation that would have generally prevented local authorities from taxing people and companies who run blockchain nodes. The Arizona Bill 1236 was first introduced in January. The bill sought to amend blockchain-related statutes, notably decreasing or doing away with state-level oversight and taxes on node operators.

The bill would have subjected counties to the same limitations on node operators that apply to cities and towns. Legislators submitted the bill to Hobbs’ desk after it passed the Arizona Senate and House and received her veto on her 100th day in office.

The Senate-engrossed version of the bill said that “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. 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 is not subject to further regulation by a city or town.”

A few Arizona lawmakers have proposed legislation to create a pro-crypto regulatory climate in the U.S. state for both businesses and individuals. State Senator Wendy Rogers advocated that Bitcoin be accepted by the government of Arizona as a legal tender and collaborated with other legislators on a resolution declaring cryptocurrency to be a tax-exempt asset under the state constitution.

Hobbs Vetoes Multiple Bills

The newly elected Democratic governor, Hobbs, is piling up vetoes of bills sent to her from the Republican-controlled Arizona Legislature. Other than Democrat Janet Napolitano, Hobbs had vetoed 37 bills by Thursday, more than any other governor in Arizona’s history. She was referred to as the “Veto Queen” by the liberal Phoenix New Times.

Hobbs vetoed a bill sponsored by State Senator Janae Shamp, SB 1253, which mandated that sex offenders with children in schools notify the school. She also vetoed State Senator John Kavanah’s SB 1009, which would have increased the fine for damaging sculptures and monuments.

Hobbs’ first three months in office have been rocky. There has been news of some of her staffers quitting their roles over the past few weeks, including her director of communications. In an interview with the New Times, Hobbs said her first three months were a “roller coaster ride,” with “unforced errors,” and “rookie missteps you might not expect from a public official who’s held statewide office before.” Some critics have accused the governor of not living up to her claims during her campaign.

Lawrence Woriji Verified

Lawrence has covered some exciting stories in his career as a journalist, he finds blockchain-related stories very intriguing. He believes Web3 will change the world and wants everyone to be a part of it.

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