A bill introduced in Arizona would make bitcoin legal tender in the state in the unlikely event that the legislation passes and the law goes into effect.
The bill, SB 1341, was introduced by state Sen. Wendy Rogers, a Republican. It seeks to amend the list of accepted legal tender to include bitcoin, which means the cryptocurrency would be accepted for the payment of debt, public charges, taxes and other dues.Whether such a law could go into effect is questionable, given that the U.S. Constitution doesn’t allow individual states to create their own legal tender.The bill must pass the Arizona state senate and house before Gov. Doug Ducey, a Republican, could sign it into law.Rogers, who took office in early 2021, is a controversial figure who has ties to the anti-government group Oath Keepers and who praised conspiracy theory group QAnon.Don Huffines, a Republican real estate developer and current candidate for Texas governor, recently said he would make bitcoin tender if he’s elected.Last September, El Salvador made bitcoin legal tender alongside the U.S. dollar and remains the only country in the world that has made the cryptocurrency an official currency.
Read more: IMF Urges El Salvador to Discontinue Bitcoin’s Legal Tender Status
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A bill introduced in Arizona would make bitcoin legal tender in the state in the unlikely event that the legislation passes and the law goes into effect.
The bill, SB 1341, was introduced by state Sen. Wendy Rogers, a Republican. It seeks to amend the list of accepted legal tender to include bitcoin, which means the cryptocurrency would be accepted for the payment of debt, public charges, taxes and other dues.Whether such a law could go into effect is questionable, given that the U.S. Constitution doesn’t allow individual states to create their own legal tender.The bill must pass the Arizona state senate and house before Gov. Doug Ducey, a Republican, could sign it into law.Rogers, who took office in early 2021, is a controversial figure who has ties to the anti-government group Oath Keepers and who praised conspiracy theory group QAnon.Don Huffines, a Republican real estate developer and current candidate for Texas governor, recently said he would make bitcoin tender if he’s elected.Last September, El Salvador made bitcoin legal tender alongside the U.S. dollar and remains the only country in the world that has made the cryptocurrency an official currency.
Read more: IMF Urges El Salvador to Discontinue Bitcoin’s Legal Tender Status
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