Arizona pushes for constitutional amendment on crypto assets to seek tax exemptions

AirdropHuntress · 2026-02-05T06:10:16+00:00

Arizona is pushing for a constitutional amendment to exempt virtual currency investors from property taxes, demonstrating the state legislature's support for crypto assets. The Senate Finance Committee approved the bill 4:3, with plans to put it to a vote by the voters in the fall. Although the governor previously opposed the bill, supporters are actively advancing the reform, reflecting the divided landscape of cryptocurrency regulation in the United States.

AirdropHuntress

2026-02-05 06:10:16

Abstract generation in progress

Faced with the polarization of cryptocurrency policies across the United States, Arizona is actively pushing forward a landmark constitutional amendment aimed at exempting virtual currency investors from property tax burdens. This ambitious initiative reflects the state legislature’s supportive attitude toward the crypto asset industry, despite multiple objections from high-level state government officials regarding related legislation.

Senate Finance Committee Passes Key Legislation

The Arizona Senate Finance Committee recently approved two major bills, S.B.1044 and S.C.R.1003, by a narrow 4:3 margin in a critical vote, and subsequently forwarded them to the Senate Rules Committee for further review. This outcome indicates that, despite evenly matched support and opposition, the push for crypto-friendly policies is making progress within the state legislature.

Dual Approach: Constitutional Amendment and State Law Revisions

According to multiple media reports, the S.C.R.1003 proposal plans to submit a constitutional amendment to voters this fall, with the core content explicitly excluding “virtual currencies” from the scope of property tax. Meanwhile, S.B.1044 is simultaneously advancing state law revisions that directly exempt crypto assets from property taxes and provide clear legal definitions. This legislative strategy both establishes the special status of crypto assets at the constitutional level and immediately implements tax reductions through state law. The legislation was introduced by Senator Wendy Rogers.

Tensions Between Governor’s Policy Stance and Legislative Progress

It is worth noting that Arizona Governor Katie Hobbs rejected several bills related to Bitcoin and crypto last year, which contrasts sharply with the current legislature’s pro-crypto push. This political divide reflects significant disagreements over cryptocurrency regulation in local U.S. politics, with different political factions holding fundamentally different attitudes toward virtual assets. Despite resistance from the governor’s office, legislators supporting the constitutional amendment remain committed to advancing this reform.

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