New Bill Would Let California State Agencies Accept Bitcoin

California is the latest U.S. authorities to leap connected the bitcoin payments bandwagon.

Senator Kamlager filed Bill 1275 to the state’s legislature connected Friday to adhd a conception to the authorities codification that relates to services provided by Californian agencies to the public.

“This measure would authorize a authorities bureau to judge cryptocurrency arsenic a method of outgo for the proviso of authorities services,” per the text.

The measure joins a increasing cohort of U.S. states looking to instrumentality authorities that incentivizes the usage of bitcoin arsenic a mean of exchange.

Last week, Colorado Governor Jared Polis pledged that its citizens would beryllium capable to use bitcoin and cryptocurrency to wage authorities taxes by this summer, adding that they are a “very forward-looking, innovative state.” However, Polis highlighted that the authorities would instantly person the cryptocurrencies received arsenic outgo into U.S. dollars.

Other states are inactive successful the process of studying existing Bitcoin authorities and gauging alternatives for the future. New Hampshire Governor Chris Sununu past week signed an enforcement order establishing a committee to analyse existent Bitcoin-related laws and suggest caller ones arsenic the authorities seeks to promote innovation and pull businesses successful the sector.

Missouri, connected the different hand, is seeking to incentivize bitcoin adoption done taxation cuts. State Representative Phil Christofanelli on Feb. 11 said that Missouri should enactment “open to innovation” and projected that bitcoin beryllium exempt from spot taxes astatine the state, county, and section levels.

A mates of days earlier the Christofanelli proposal, Tennessee State Representative Jason Powell introduced 2 bills. The archetypal would let the authorities and its municipalities to bargain bitcoin for their treasuries, portion the 2nd sought to found a bitcoin and cryptocurrency survey committee to “help find however to marque [Tennessee] the astir guardant reasoning and pro-business authorities for cryptocurrency and blockchain and to foster a affirmative economical situation for blockchain and cryptocurrency.”

On a national level, the White House is eager to acceptable retired a cohesive acceptable of policies to modulate Bitcoin and integer assets arsenic currently, authorities and its enforcement are scattered crossed sectors and agencies. To bash so, the Biden medication is expected to merchandise an enforcement bid soon to task national agencies with assessing the risks and opportunities that Bitcoin and cryptocurrencies could pose.