• Arizona state senator Wendy Rogers has proposed a set of bills to make bitcoin legal tender and allow for its acceptance by state agencies.
• The bills define bitcoin as a decentralized, peer-to-peer digital currency, and would let individuals and businesses use it to pay debts, taxes, fees, charges and other financial obligations.
• This is the second time Sen. Rogers has introduced such legislation in her state, following El Salvador’s adoption of bitcoin as legal tender and increasing interest in other US states.
Arizona Senator Proposes Bitcoin Legal Tender Bills
Sen. Wendy Rogers (R-AZ) has proposed a set of bills that aim to make Bitcoin legal tender in Arizona and allow state agencies to accept it as payment for debts, taxes and other financial obligations. These bills would recognize Bitcoin as a legitimate form of currency in the state.
Definition of Bitcoin
The legal tender bill specifically mentions Bitcoin by defining it 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.”
The acceptance bill is more broad in scope, allowing “state agencies [to] enter into an agreement with a cryptocurrency issuer to provide a method to accept cryptocurrency as a payment method for 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.”
This is not the first time Sen. Rogers has attempted to pass such legislation; she first proposed similar amendments back in January 2022 but they died during their second reading. However recent actions like those taken by El Salvador have proven beneficial for growth & investment opportunities within the country—leading many US states including Texas & Missouri show increased interest towards adopting Bitcoin too – further increasing chances for such bills getting passed eventually.
In conclusion Sen. Wendy Rogers’ proposal aims at recognizing Bitcoin as legal tender within Arizona – allowing individuals & businesses alike the option to use it for various financial obligations & payments without needing approval from any central bank or authority body – if successfully implemented this could prove highly lucrative for both citizens & businesses within Arizona alike .