State Senator Wendy Rogers (R-Arizona) introduced a series of bills aimed at making Bitcoin legal tender in Arizona and allowing state agencies to accept Bitcoin.
The proposed bill aims to recognize Bitcoin as a legal currency in Arizona and allow it to be used to pay debts, taxes and other financial obligations. This means that all transactions currently made in US dollars could be made in Bitcoin, giving individuals and businesses the option to use Bitcoin if they so choose.
Specifically referring to Bitcoin alone, the Legal Tender Bill defines Bitcoin as: And it operates independently from the central bank. ”
The Acceptance Bill is broader, stating that “a national agency will work with cryptocurrency issuers to provide a way to accept cryptocurrencies as a method of payment for fines, civil penalties, or other penalties, rents, fees, taxes, and fees. You can enter into contracts, fees, revenues, financial obligations, and special assessments to pay amounts owed to that agency or to this State.”
This is the second time Senator Rogers has introduced a bill aimed at making Bitcoin legal tender in the state. She introduced the same amendment in her January 2022, but by her second reading she was dead.
While the bill may seem unlikely to pass this time around, El Salvador’s adoption of Bitcoin as legal tender has proven to be a boon for growth and investment in the country. Recent actions in states such as Texas, New Hampshire, Missouri and Mississippi all point to growing US state interest in Bitcoin and its benefits. As Bitcoin adoption grows, the likelihood of such a bill being passed only increases.