Arizona’s state senator introduced a bill that would legalize bitcoin. Although the US federal law does not allow states to create their own currencies, this bill could spark an interesting discussion.
A draft bill, SB 1341, was introduced by Wendy Rogers, Republican state senator. It seeks to give bitcoin legal status as a transactional currency. The bill, which is currently being discussed in the state senator and house of representatives but no date has been set, would allow the Grand Canyon state to be the first US state that considers this development.
“Any medium of trade that is authorized under the United States Constitution and Congress for payment of debts or public charges, taxes, or dues.”
“Bitcoin” is a decentralized, peer to-peer digital currency that can be used for transactions. New units of currency can be generated by solving 21 mathematical problems. It operates without the intervention of any central bank.
The senator tweeted in September 2017 that she wanted Arizona to be crypto-friendly.
“I will work to make Arizona crypto-friendly.”
On December 31, 2021, Rogers was elected to the Blockchain and Cryptocurrency Study Committee’s 3-member board. On December 31, 2021, Rogers was appointed to the 3-member Blockchain and Cryptocurrency Study Committee. According to the survey, 37% of Texas and Wisconsin residents favored bitcoin as a legal currency. This compares with 25% in Arizona which was one of 10 swing states included in the poll by Redfield & Wilton Strategies, a London-based market research firm. El Salvador is currently the only country that accepts bitcoin as a legal currency. Lord Fusitua, a former Tonga parliamentarian, recently stated that Tonga would accept bitcoin as a legal currency by November of this year.
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