Arizona Lawmakers Propose Sweeping Crypto Tax Exemptions
Arizona is positioning itself as a crypto-friendly jurisdiction with new legislation that could eliminate state taxes on digital assets. State Senator Wendy Rogers has introduced twin bills and a constitutional amendment targeting VIRTUAL currency taxation and blockchain infrastructure protections.
The first bill exempts virtual currencies from state taxation, defining them as "a digital representation of value" with monetary functions. The accompanying constitutional resolution WOULD permanently exclude digital assets from property taxes, requiring voter approval in the 2024 general election.
A third proposal shields blockchain node operators from local taxation, creating a favorable environment for network infrastructure. If passed, Arizona would join Texas and Wyoming as leading crypto hubs with tax-friendly policies.
