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Thursday, June 1, 2023

Arizona Senator Launches Bill to Make Bitcoin Legal Tender

Arizona Senator Launches Bill to Make Bitcoin Legal Tender – Arizona State Senator Wendy Rogers has proposed various legislation related to cryptocurrency, including a bill that would recognize bitcoin as a legal form of payment in the state. “Launched my crypto bills today,” Rogers tweeted Tuesday. The bills are co-sponsored by her state senate Republican colleagues Jeff Weninger and J.D. Mesnard.

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One of the bills proposes making bitcoin legal tender. The legislation defines the cryptocurrency as “the decentralized, peer-to-peer digital currency in which a record of transactions is maintained on the bitcoin blockchain and new units of currency are generated by the computational solution of mathematical problems and that operates independently of a central bank.”

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Another bill proposes allowing state agencies to enter “into an agreement with a cryptocurrency issuer to provide a method to accept cryptocurrency as a payment method of fines, civil penalties or other penalties, rent, rates, taxes, fees, charges, revenue, financial obligations, and special assessments to pay any amount due to that agency or this state.”

Last year, Rogers introduced a similar bill to make bitcoin legal tender in Arizona but it was quickly shot down. She tweeted last April: “Centralized digital money controlled by the central bankers is slavery. Decentralized bitcoin is freedom.” El Salvador became the first country to accept bitcoin as legal tender alongside the US dollar in September 2021. Since then, the country has purchased thousands of BTC for its treasury, led by pro-bitcoin president Nayib Bukele. Bukele said in November that El Salvador is buying bitcoin on a daily basis.

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