Arizona State Senator Submits More Pro-Crypto Proposals

After drafting a bill aiming to make Bitcoin legal tender in the state, Wendy Rogers has put forward two more pro-crypto proposals. 

Key Takeaways

  • An Arizona state senator has proposed two more pro-crypto bills.
  • The first bill aims to allow state agencies to accept cryptocurrencies as payment for various financial obligations.
  • The second bill seeks to exclude all virtual currencies from tax obligations in Arizona.

Arizona state senator Wendy Rogers has proposed two more crypto-focused bills. The proposals argue for tax exemption for virtual currencies and the ability to pay state agencies in cryptocurrency. 

Rogers Submits More Crypto Bills

A state senator wants to make Arizona the most crypto-friendly state.

Wendy Rogers, a Republican member of the Arizona Senate, has proposed two more pro-crypto bills. 

The first bill, SB 1127, proposes that state agencies provide methods to accept cryptocurrencies to pay fines, civil penalties, rent, rates, taxes, fees, or other financial obligations due to the state. If passed in the Arizona Senate, the bill would become effective after Dec. 31, 2022. 

The new filing builds on a previous bill passed in 2018, allowing Arizona residents to pay income taxes using Bitcoin or other cryptocurrencies recognized by the state’s revenue authorities.

The second bill, numbered SB 1128, seeks to amend the legislature of Arizona by adding a tax exemption for all virtual currencies. The filing defines virtual currency as “a means of digital representation of value, other than a representation of the United States dollar or a foreign currency, that functions as a unit of account, a store of value or medium of exchange.”

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(Razor Forex) New bill by Arizona Republican Wendy Rogers seeks to exempt cryptocurrencies from property taxes

“Wendy Rogers, Republican member of the Arizona state Senate, has introduced bill SB1128, which will exempt bitcoin and other cryptocurrencies from property taxes, while also classifying cryptocurrency as legal tender. The bill also contains provision that shield the right of Arizona residents to operate a verification node on any blockchain. ‘This state may not prohibit or encumber the ownership or holding of any form or amount of money or other currency,’ says the new bill.”

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