Missouri Lawmaker Introduces Bill To Exempt Crypto From State Property Taxes

Proposed legislation potentially aiding cryptocurrency adoption continues to pop up in statehouses across the United States.

This week, Missouri State Representative Phil Christofanelli introduced a bill that would exempt cryptocurrencies from state property taxes.

Explains the Republican lawmaker in a press release touting the legislation,

“My goal is to ensure Missouri is open to innovation and opportunity as Bitcoin, other cryptocurrencies and blockchain applications come to the market. This industry has great potential to enhance Missouri’s push to create greater economic and political freedom, and I hope to advance this legislation and further proposals over the next few years.”

Christofanelli isn’t the only state lawmaker to make moves on crypto this month. In Tennessee, Democratic Representative Jason Powell introduced a bill that would allow the state to invest in Bitcoin (BTC), crypto and non-fungible tokens (NFTs).

Powell also introduced another bill that would create a blockchain and cryptocurrency subcommittee to “help determine how to make [Tennessee] the most forward-thinking and pro-business state for cryptocurrency and blockchain and to foster a positive economic environment for blockchain and cryptocurrency.”

Earlier this week, New Hampshire Governor Chris Sununu signed an executive order creating the Governor’s Commission on Cryptocurrencies and Digital Assets.

The commission aims to perform a wide-ranging and comprehensive survey of the digital asset space in order to make recommendations regarding future state laws and policies.

Last month, Arizona State Representative Wendy Rogers introduced a flurry of crypto-related bills, including one that would add BTC to the state’s list of things defined as legal tender.

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