Arizona lawmaker proposes barring taxes on crypto and blockchain

cointelegraphPublicado a 2025-12-22Actualizado a 2025-12-22

Resumen

Arizona State Senator Wendy Rogers has introduced two bills and a resolution to change how digital assets are taxed in the state. The proposals include exempting virtual currency from taxation (SB 1044), preventing local governments from taxing or fining blockchain node operators (SB 1045), and amending the state constitution to exclude digital assets from property tax (SCR 1003). While the node bill may pass through the legislature, the tax exemption and constitutional change would require voter approval in the 2026 general election. Arizona is among a small group of states, including New Hampshire and Texas, with laws establishing digital asset reserve policies. The move follows broader U.S. state-level efforts to create supportive regulatory frameworks for cryptocurrency.

Arizona state Senator Wendy Rogers has proposed two bills and a resolution in an effort to change the state’s laws on taxing digital assets.

In legislation prefiled with the Arizona Senate on Friday, Rogers proposed amending state statues to exempt virtual currency from taxation (SB 1044), barring counties, cities and towns from taxing or fining entities running blockchain nodes (SB 1045), and amending the state constitution’s definition of property taxes to clarify rules on digital assets (SCR 1003).

The blockchain node bill may move through the state legislature, but the crypto tax bill and resolution would require a vote by Arizona voters during the next general election, in November 2026.

SCR 1003 would amend Arizona’s constitution to specifically exclude virtual currency from property tax, while SB 1044 would add similar language to the state’s statutes. SB 1045 would prohibit cities, towns and counties in the state from imposing “a tax or fee on a person that runs a node on blockchain technology.”

*Bill barring cities or towns from taxing blockchain node activity: Source:* *Arizona legislature*

Arizona is one of the few US states that has a law on the books allowing the government to claim ownership of digital assets that have been abandoned for at least three years. The law was part of efforts by crypto advocates to establish a digital asset reserve in Arizona, but there are other proposals to give the state more authority to invest in cryptocurrencies like Bitcoin (BTC).

Related: New Hampshire governor signs crypto reserve bill into law

Rogers was one of the co-sponsors of a Bitcoin reserve bill vetoed by Arizona Governor Katie Hobbs in May. The senator condemned the move and said she would refile the bill during the next session. Cointelegraph reached out to Rogers for comment but had not received a response at the time of publication.

US states adopt crypto reserve bills, different digital asset policies

Arizona remains one of the few US states with a law establishing a digital asset reserve, along with New Hampshire and Texas. Although some lawmakers in other states have been attempting to gather support for similar bills, there are also many suggesting a different approach to digital asset taxation.

For example, Ohio’s House of Representatives passed a bill that could exempt crypto transactions under $200 from the state’s capital gain taxes. The legislation does not appear to have advanced since June.

New York Assemblymember Phil Steck proposed adding a 0.2% excise tax on “digital asset transactions, including the sale or transfer of digital assets” for the state’s residents. The bill was referred to the ways and means committee and did not appear to have advanced since August.

At the federal level, Wyoming Senator Cynthia Lummis submitted a draft bill in July proposing a de minimis exemption for digital asset transactions and capital gains of $300 or less. Lummis announced on Friday that she would retire from the US Senate in January 2027.

Magazine: When privacy and AML laws conflict: Crypto projects’ impossible choice

Preguntas relacionadas

QWhat are the three legislative actions proposed by Arizona state Senator Wendy Rogers regarding digital assets?

ASenator Wendy Rogers proposed two bills and one resolution: SB 1044 to exempt virtual currency from taxation, SB 1045 to bar counties, cities, and towns from taxing or fining blockchain node operators, and SCR 1003 to amend the state's constitution to clarify property tax rules for digital assets.

QWhich of Senator Rogers' proposals would require a vote by Arizona voters in the 2026 general election?

AThe crypto tax bill (SB 1044) and the resolution to amend the state constitution (SCR 1003) would require a vote by Arizona voters in the November 2026 general election.

QWhat does SB 1045 specifically prohibit local governments in Arizona from doing?

ASB 1045 prohibits cities, towns, and counties in Arizona from imposing a tax or fee on any person running a node on blockchain technology.

QWhich other US states have laws establishing a digital asset reserve, similar to Arizona?

ANew Hampshire and Texas are the other US states that have laws establishing a digital asset reserve, similar to Arizona.

QWhat federal-level proposal did Wyoming Senator Cynthia Lummis make regarding digital asset transactions in July?

AIn July, Wyoming Senator Cynthia Lummis submitted a draft bill proposing a de minimis exemption for digital asset transactions and capital gains of $300 or less at the federal level.

Lecturas Relacionadas

Annual Salary of Millions Competing for Electricians, Meta Rushes to Open Its Own Technical School

The AI boom is facing an unexpected bottleneck: a severe shortage of skilled construction workers and electricians. As tech giants like Meta, OpenAI, and Alphabet race to build massive data centers—such as OpenAI's $16 billion "Stargate" project—they are hitting a critical labor wall. The U.S. needs an estimated 130,000 more electricians, 240,000 construction workers, and 150,000 supervisors by 2030 for AI infrastructure alone, but tens of thousands of electrician jobs go unfilled each year. While AI companies offer high premiums, with electricians earning up to $280,000 annually, worker scarcity still causes massive losses—delays on a single project can cost $14.2 million per month. The complexity of building AI data centers, which require immense power (equivalent to powering hundreds of thousands of homes), sophisticated electrical systems, and advanced liquid cooling solutions, demands highly skilled technicians who are in short supply. To combat this, companies are investing heavily in training. Meta has committed $115 million to a free training school offering tuition, housing, and stipends, targeting 5,000 new workers. OpenAI is partnering with unions to secure skilled labor. These efforts are paying off, with a significant rise in Gen Z interest in trade schools over college. However, the power demands are staggering. AI data centers are driving a rapid surge in electricity consumption, projected to account for up to 12% of U.S. power use by 2028 and raising costs for consumers. Furthermore, the construction boom is project-based, leading to a potential future glut of trained workers once building peaks, which could depress wages industry-wide. The race for AI supremacy now depends as much on skilled hands as on advanced chips.

marsbitHace 8 min(s)

Annual Salary of Millions Competing for Electricians, Meta Rushes to Open Its Own Technical School

marsbitHace 8 min(s)

OpenAI No Longer Sells Its Most Expensive Model for Profit

OpenAI is shifting its business strategy away from promoting its most expensive, flagship models for every task. Recent price cuts—80% for GPT-5.6 Luna and 20% for Terra—signal a deeper change: the company now actively advises users that many tasks don't require the most powerful model. Instead, OpenAI recommends a tiered approach: use the high-end GPT-5.6 Sol for complex planning and analysis, then delegate execution to cheaper models like Luna. This mirrors moves by Anthropic, which recently launched Claude Opus 5 at half the price of its top model, Fable 5. Both companies are de-emphasizing flagship models as primary revenue drivers, using them instead for brand prestige and technological showcases. The industry is entering a "mass-market" phase, similar to automotive, where high-volume, cost-effective models handle daily operations and drive scale. OpenAI's price reductions are partly enabled by AI models themselves optimizing underlying code and infrastructure, creating a self-reinforcing cycle of efficiency gains and cost reduction. Competition is shifting from "who is smartest" to "who offers the best value." The goal is no longer selling individual models but fostering widespread API adoption and ecosystem lock-in. By making AI calls cheap and ubiquitous, companies like OpenAI aim to become the indispensable, utility-like infrastructure powering automated workflows—the "water and electricity" of software, quietly embedded everywhere.

marsbitHace 8 min(s)

OpenAI No Longer Sells Its Most Expensive Model for Profit

marsbitHace 8 min(s)

Suspected 4th Coldcard attack wave sweeps 389 Bitcoin: Galaxy’s Thorn

Coldcard hardware wallet users are facing a new wave of coordinated attacks targeting a firmware flaw, with researcher Alex Thorn flagging 218 recent transactions moving approximately 389 Bitcoin from potentially impacted addresses. The attack pattern shows a high rate of transactions targeting unique victim addresses, differing from previous waves. The vulnerability, which causes affected devices to generate weaker wallet seeds, is estimated to have impacted over 1,100 wallets, leading to around $90 million in Bitcoin stolen. Thorn advises affected users who control their keys may attempt to move funds with a higher-fee transaction before the attacker's transactions are confirmed.

cointelegraphHace 15 min(s)

Suspected 4th Coldcard attack wave sweeps 389 Bitcoin: Galaxy’s Thorn

cointelegraphHace 15 min(s)

Bitcoin Miners Are Waving the White Flag, But Their Stocks Are Soaring

Bitcoin miners are capitulating as evidenced by a sustained drop in network hash rate and a record-steep 19.9% decline in mining difficulty, signaling the shuttering of unprofitable machines. However, in a significant divergence from historical patterns, the stocks of publicly traded mining companies have soared, with one major player gaining over 430% in the past year, even as BTC's price fell roughly 46%. This surge is largely attributed to these companies pivoting toward the more lucrative AI narrative. Simultaneously, miners face a structural squeeze. Daily block reward revenue in BTC terms has hit a new all-time low following the latest halving, with current dollar-denominated daily revenue around $30 million compared to a longer-term average of ~$40 million. Fee revenue remains negligible, covering less than one block's subsidy over a 28-day average and accounting for only about ten minutes of the network's daily security budget. This capitulation cycle is unique: miner stress and crypto price weakness have decoupled due to alternative revenue streams (AI), while the long-term reliance on increasing bitcoin prices to offset shrinking subsidies continues, with fee income still far from filling the impending gap.

marsbitHace 18 min(s)

Bitcoin Miners Are Waving the White Flag, But Their Stocks Are Soaring

marsbitHace 18 min(s)

Will the Fed Definitely Raise Interest Rates in September? How Will Crypto and U.S. Stocks Withstand the Pressure?

The market's expectation for a September Fed rate hike surged dramatically in early August, jumping from under 50% to over 80% within a week. This shift followed a contentious July FOMC meeting, where a 9-3 vote to hold rates revealed growing dissent from hawkish members advocating for an immediate hike to combat persistent inflation. The primary catalyst for this repricing is rising oil prices, driven by renewed geopolitical tensions around the Strait of Hormuz, which threaten global supply. Energy costs directly influence inflation metrics, making the upcoming July CPI report (due August 12th) a critical data point. If it shows inflation reaccelerating, the probability of a September hike will solidify. For Bitcoin and crypto assets, this is typically bearish news. Bitcoin continues to behave as a high-beta, liquidity-sensitive risk asset. A rate hike raises the opportunity cost of holding non-yielding assets and could drive capital toward money markets, pressuring crypto prices in the short term. However, historical patterns suggest that if a hike is perceived as the end of a tightening cycle rather than the start, any negative price impact may be brief. U.S. stocks, particularly crypto-linked equities like Coinbase and growth-oriented tech stocks, are also vulnerable. Higher rates increase discount rates in valuation models, putting pressure on high-multiple companies. This coincides with a pivotal tech earnings season where investor focus has shifted from massive AI capital expenditure to tangible revenue and cash flow generation. Companies with negative cash flow and weak growth narratives could face heightened volatility if borrowing costs rise in September. In summary, a September Fed hike has evolved into a mainstream market scenario. Key factors to watch are oil prices, the July CPI report, and Fed communications, which will determine the final decision and its impact on volatile crypto and equity markets.

marsbitHace 18 min(s)

Will the Fed Definitely Raise Interest Rates in September? How Will Crypto and U.S. Stocks Withstand the Pressure?

marsbitHace 18 min(s)

Trading

Spot