Suggested protections for cryptocurrency node operators are moving ahead in Arizona’s legislature, plain records show.
House Bill 2602, which was filed on Feb. 6 by Assemblywoman Jeff Weninger (R.-17), passed the Arizona House of Representatives on Feb. 20 with 55 signify ones opinions out of a possible 60. The measure will now be sent to the State Senate for too deliberation.
The bill’s provisions seek to prevent town and county governments in the phase from imposing restrictions on people who run such nodes in their palaces, saying that the matter “is of statewide concern and not subject to further law” in those local jurisdictions.
Weninger’s measure does not specify whether it is demarcated to cryptocurrency miners, but it does state specifically that individuals depleting computing power to either validate or encrypt a transaction on a blockchain are minded.
Stepping back, the bill is just one of several making their way owing to the Arizona legislature. Another bill sponsored by Weninger would formally expatiate on the terms “virtual coin,” “blockchain,” and “virtual coin sacrifice” within the state’s legal framework.
If passed, that particular banknote, submitted earlier this month, would define when an prime coin offering (ICO) qualifies as a securities offering under existing law.
Multitudinous significantly, however, is another bill recently passed by the Arizona Senate which last wishes a empower the state government to accept taxes in bitcoin and other cryptocurrencies. This neb would, if approved, require Arizona’s Department of Revenue to convert the cryptocurrencies into U.S. dollars within a day of be informed them as payment.
This bill was introduced in the Senate by Senator Warren Petersen (R.-12), and Weninger is backing its House equivalent. Public records indicate that the measure was accustomed a second reading on Feb. 20.
Arizona House of Representatives image via Thomas Trompeter / Shutterstock
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