The bill was first introduced as an amendment to the Arizona Revised Statutes by Rep. Jeff Weninger in February, one of three bills aiming “to open the door for emerging technologies in Arizona.”
HB 2602 and HB 2601 are both awaiting a third reading in the Arizona Senate. The former would prohibit towns from restricting cryptocurrency mining in residences, while the latter aims to address securities and crowdfunding, recognize a “virtual coin” as “a digital representation of value”, and authorize its function as a medium of exchange in digital trading.
Weninger’s measures emerge amid a backdrop of robust regulatory moves by the state to recognize and delimit applications of Blockchain technology. As Cointelegraph reported in March, the Arizona Senate passed SB 1091, which would allow state residents to pay their taxes in Bitcoin.
https://cointelegraph.com/news/arizona-blockchain-bill-signed-into-state-law
