Arizona Senate committee advances bill to exempt crypto from property tax

A bill that would exempt cryptocurrencies from property taxes in Arizona has passed a state Senate committee, according to Decrypt. On Jan. 26, the Arizona Senate Finance Committee approved both Senate Bill 1044, which excludes assets like Bitcoin from property tax, and Senate Concurrent Resolution 1003, a measure to amend the state constitution accordingly. The legislation will now advance to the Senate Rules Committee for further review before a full floor vote. Final approval is contingent on a voter referendum scheduled for this November.