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State Senator Introduces Bill to Make Bitcoin Legal Tender in Arizona

01-31-2022

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.

 

Source: Coindesk