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- Wendy Rogers, a Republican state senator recently introduced a bill regarding the adoption of Bitcoin as a legal tender in Arizona.
- The bill might face issues and barriers due to U.S. constitutional laws regarding legal tenders of individual states.
- Rogers is a controversial figure in the state but seems to be a fan of the cryptocurrency Bitcoin.
A bill regarding making Bitcoin a legal tender was introduced by State Senator Wendy Rogers, a Republican. The bill SB 1341 seeks the amendment to include Bitcoin in the list of accepted legal tenders.
This means that the leading cryptocurrency can be used for payments and remittances of debts, taxes, public charges, and other dues.
Although it is questionable whether such a law could go into effect because the constitution of the United States does not allow individual states to create and bring to effect their own legal tenders. The bill has to pass through the Arizona state senate and the house of representatives before Governor Doug Ducey, a Republican, could sign it into law.
Wendy Rogers is a controversial figure in the state. She took office early last year and is said to have ties with the anti-government group Oath Keepers, she also appreciated QAnan, the conspiracy theory group.
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Rogers has introduced a few bills related to cryptocurrency. She also introduced a bill that allows the state government of Arizona to pay their employees in digital currency if they request so.
Recently in Texas, Don Huffines, a Republican Real Estate developer and current candidate for the position of Texas Governor, announced that if he gets elected, he would make Bitcoin a legal tender in Texas.
When it comes to making Bitcoin a legal tender, El Salvador remains to be the first and only country to make the cryptocurrency an official mode of transactions. El Salvador announced this last year in September.
Even though the International Monetary Fund is a critic of the adoption of cryptocurrencies as legal tenders due to the volatility of the digital currencies.
The Republican state senator, Rogers seems to be a fan of digital currencies and this bill introduction is proof of that. Although it is to look forward to whether it can come into effect given the U.S. laws about legal tenders by individual states. The adoption of Bitcoin as a legal tender seems to be an upcoming topic of discussion, can there be a possibility of someone else from any country or state being in its favour after El Salvador, Texas, and Arizona.
Nancy J. Allen is a crypto enthusiast, with a major in macroeconomics and minor in business statistics. She believes that cryptocurrencies inspire people to be their own banks, and step aside from traditional monetary exchange systems. She is also intrigued by blockchain technology and its functioning. She frequently researches, and posts content on the top altcoins, their theoretical working principles and technical price predictions.
