Arizona Senator Introduces Bill to Make Bitcoin Legal Tender

2 years ago

A bill introduced successful Arizona would marque bitcoin ineligible tender successful the authorities successful the improbable lawsuit that the authorities passes and the instrumentality goes into effect.

  • The bill, SB 1341, was introduced by authorities Sen. Wendy Rogers, a Republican. It seeks to amend the database of accepted ineligible tender to see bitcoin, which means the cryptocurrency would beryllium accepted for the outgo of debt, nationalist charges, taxes and dues.

  • Whether specified a instrumentality could spell into effect is questionable, fixed that the U.S. Constitution does not allow idiosyncratic states to make its ain ineligible tender.

  • The measure indispensable walk the Arizona legislature and location earlier Gov. Doug Ducey tin motion it into law.

  • Rogers, who took bureau successful aboriginal 2021, is simply a arguable fig who has ties to the anti-government radical Oath Keepers and praised conspiracy mentation radical QAnon.

  • Don Huffines, a Republican existent property developer and existent campaigner for Texas governor, precocious said helium would marque bitcoin tender if he’s elected.

  • Last September, El Salvador made bitcoin ineligible tender alongside the U.S. dollar and remains the lone state to person made the move.

DISCLOSURE

The person successful quality and accusation connected cryptocurrency, integer assets and the aboriginal of money, CoinDesk is simply a media outlet that strives for the highest journalistic standards and abides by a strict acceptable of editorial policies. CoinDesk is an autarkic operating subsidiary of Digital Currency Group, which invests successful cryptocurrencies and blockchain startups. As portion of their compensation, definite CoinDesk employees, including editorial employees, whitethorn person vulnerability to DCG equity successful the signifier of stock appreciation rights, which vest implicit a multi-year period. CoinDesk journalists are not allowed to acquisition banal outright successful DCG.

Brandy covers crypto-related task superior deals for CoinDesk.


Subscribe to The Node, our regular study connected apical quality and ideas successful crypto.

By signing up, you volition person emails astir CoinDesk merchandise updates, events and selling and you hold to our terms of services and privacy policy.

View source