Arizona is making headlines as it pushes forward legislation designed to protect home-based Bitcoin mining and support broader blockchain operations. The proposed law, House Bill 2342 (HB 2342), recently passed the state Senate with a 17–12 vote and now awaits approval from Governor Katie Hobbs.
Supporting Home Crypto Mining
HB 2342 aims to prevent local municipalities from imposing zoning or regulatory restrictions on individual residents who engage in activities such as:
- Bitcoin and cryptocurrency mining
- Running blockchain nodes
- Cloud computing tasks
- Artificial intelligence workloads
- Scientific computation
By declaring these activities as matters of “statewide concern,” Arizona is attempting to bypass local oversight and promote an innovation-friendly environment.
Crypto-Backed State Reserves
In addition to HB 2342, Arizona is considering two more proposals — Senate Bills SB 1373 and SB 1025 — that would authorize the state treasury to hold digital assets as reserves.
- These bills would permit up to 10% of state treasury or public retirement funds to be invested in digital assets like Bitcoin.
- They also include provisions for managing cryptocurrency recovered during law enforcement actions.
Arizona Leading Among U.S. States
While over 25 states have introduced similar measures, Arizona’s legislative initiatives are among the most advanced. States such as Texas and Oklahoma are also actively exploring blockchain-supportive policies, but Arizona’s proposals are closer to implementation. If passed, these measures could legitimize crypto adoption at a state level and foster an innovation-driven regulatory climate.
For more details, see the full article on Decrypt.
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