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Katie Hobbs, the governor of the American state of Arizona, has vetoed legislation that would have largely stopped local authorities from imposing taxes on individuals Arizona Governor Katie Hobbs has blocked a bill passed recently by the state's legislature that would have allowed the state's treasurer and retirement systems to The bill, SB 1236, which would have segregated blockchain technology as a state matter, was stopped by Hobbs. The proposed bill will block the governments from Arizona Governor Katie Hobbs has vetoed a bill that would have allowed the state to hold Bitcoin as part of its official reserves, effectively ending efforts to make Arizona Phoenix, AZ - Today, Governor Katie Hobbs took the following legislative action: Signed SB1051, engineers; alterations; commercial space SB1117, political subdivision The bill, known as the Arizona Strategic Bitcoin Reserve Act, aimed to authorize the state to invest seized funds into Bitcoin and establish a reserve managed by Arizona Governor Katie Hobbs vetoed a bill that would have allowed the state to invest in bitcoin using seized funds. The bill could have made Arizona the first U.S. Democratic Governor Katie Hobbs vetoed on Friday the Digital Assets Strategic Reserve bill (SB1025), which would have allowed the state to invest part of its seized Arizona Governor Katie Hobbs has vetoed Bitcoin reserve and crypto payment bills, while approving strict crypto ATM rules aimed to protect consumers from scams.

Arizona Governor Katie Hobbs Blocks Bitcoin Mining Tax Break Bill, Vetoes Crypto Reserve Act

Arizona Governor Katie Hobbs has drawn a line in the sand on cryptocurrency legislation, vetoing two key bills that would have significantly impacted the state's approach to Bitcoin and digital assets. The decisions mark a notable stance on crypto policy in the state.

Hobbs Vetoes Bill Removing Taxes on Bitcoin Mining

Katie Hobbs, the governor of the American state of Arizona, has vetoed legislation that would have largely stopped local authorities from imposing taxes on individuals involved in Bitcoin mining. The bill, SB 1236, which would have segregated blockchain technology as a state matter, was stopped by Hobbs, raising questions about the future of Bitcoin mining regulation in the state. The proposed bill will block the governments from collecting certain taxes, impacting the economics of local mining operations.

Arizona Bitcoin Reserve Act Rejected by Governor

Adding to the controversial decisions, Arizona Governor Katie Hobbs has vetoed a bill that would have allowed the state to hold Bitcoin as part of its official reserves, effectively ending efforts to make Arizona a pioneer in digital asset adoption. Known as the Arizona Strategic Bitcoin Reserve Act, the bill aimed to authorize the state to invest seized funds into Bitcoin and establish a reserve managed by the state. Democratic Governor Katie Hobbs vetoed on Friday the Digital Assets Strategic Reserve bill (SB1025), which would have allowed the state to invest part of its seized assets in Bitcoin.

Crypto ATM Regulations Approved Amid Vetoes

While Arizona Governor Katie Hobbs has vetoed Bitcoin reserve and crypto payment bills, she's simultaneously approved stricter crypto ATM rules aimed to protect consumers from scams. This suggests a focus on consumer protection in the digital asset space, even as the state declines to embrace Bitcoin as a strategic reserve asset or provide tax breaks for mining operations.

Phoenix, AZ - Today, Governor Katie Hobbs took the following legislative action: Signed SB1051, engineers; alterations; commercial space SB1117, political subdivision.

Implications of Hobbs' Decisions

The decisions by Arizona Governor Katie Hobbs have sent ripples through the cryptocurrency community. By vetoing the bills, the state will not be the first to adopt Bitcoin into state retirement systems nor would it become the first U.S. state to officially incorporate digital currency into its financial infrastructure, at least for now. Arizona Governor Katie Hobbs has blocked a bill passed recently by the state's legislature that would have allowed the state's treasurer and retirement systems to invest in such options.

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