State Senator Introduces Bill to Make Bitcoin Legal Tender in Arizona
The U.S. Constitution doesn't allow individual states to create their own legal tender, however.
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.
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