Arizona Lawmakers Push Bill To Make Bitcoin Legal Tender• https://www.zerohedge.com, by Tyler Durden
State Sen. Wendy Rogers (R-AZ) has introduced a set of bills aimed at making bitcoin legal tender in Arizona and allowing state agencies to accept bitcoin.
As Bitcoin Magazine's 'BTCCasey' reports, the proposed legislation aims to recognize bitcoin as a legal form of currency in Arizona, allowing it to be used to pay for debts, taxes and other financial obligations.
This would mean that all transactions that are currently done in U.S. dollars could potentially be done with bitcoin, and individuals and businesses would have the option to use bitcoin as they see fit.
Specifically mentioning bitcoin alone, the legal tender bill defines bitcoin 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, saying that, "A state agency may 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."
Additionally, as CoinTelegraph reports, in legislation introduced in the first session of the Arizona State Senate in 2023, Senators Rogers, Borrelli, and Wadsack proposed having Arizona residents decide on amending the state's constitution in regard to crypto and property taxes.
1 Comments in Response to Arizona Lawmakers Push Bill To Make Bitcoin Legal Tender
And they can get away with it, just like the Federal Government does. The US is not allowed to make anything other than gold or silver into money. So, the US contracted with the Federal Reserve Bank to handle money. They did this so that they wouldn't have to break the Constitution. --- Article I, Section 10, Clause 1: "No State shall ... make any Thing but gold and silver Coin a Tender in Payment of Debts; ... ." Rather, farm it out to Bitcoin... which essentially is a bunch of private contracts. In fact, current SEC law regulating bitcoins is borderline breach of privacy.