9-500.42. Prohibition on regulation of using computational power or running node on blockchain technology; state preemption; definitions

131 words·~1 min read·/az/title-9/9-500-42

A research copy — for the controlling text, always check the official state or federal source. Not legal advice.

A. A city or town may not prohibit or otherwise restrict an individual from lawfully accessing or using computational power or running a node on blockchain technology in a residence.

B. The regulation of the act of lawfully accessing or using computational power or running a node on blockchain technology in a residence is of statewide concern and not subject to further regulation by a city or town.

C. For the purposes of this section:

1. "Computational power" means the use of computer hardware and software to process data, run algorithms or perform tasks requiring significant computing resources, including artificial intelligence, blockchain, scientific research and cloud computing.

2. "Running a node on blockchain technology" means providing computing power to validate or encrypt transactions in blockchain technology as defined in section 44-7061.