Arizona Can Make Bitcoin Means of Payment
2023.01.27 08:36
Arizona Can Make Bitcoin Means of Payment
By Tiffany Smith
Budrigannews.com – Bills on cryptocurrency have been introduced by Arizona state senator Wendy Rogers, one of which aims to make Bitcoin (BTC) legal tender in Arizona.
Rogers recently announced the launch of a set of crypto bills and cited data from investment firm Goldman Sachs to support her claim that Bitcoin is the world’s best-performing asset.
“Cracking: #” According to data from Goldman Sachs, “Bitcoin is the world’s best performing asset this year.”
Today, I launched my #Crypto and Photo Radar Prohibition bills, with nearly all of my Republican senator colleagues as cosponsors: @JeffWeninger @JDMesnard
The goal of one of the proposed bills is to make Bitcoin cash in the state of the United States. BTC will become an accepted medium of exchange in the state for the payment of debt, public charges, taxes, and dues if it is enacted into law.
A similar bill was also introduced by the state senator in 2022, but it was unsuccessful. Rogers continues to push BTC forward in the state despite this. Rogers supported Bitcoin and spoke out against central banks in April 2022. She tweeted:
Slavery is digital money that is controlled by the central bank. #Bitcoin is decentralized freedom.
In addition, Rogers was involved in the introduction of a bill that aims to make crypto a property exempt from taxes. In 2024, voters will be able to decide, if the proposal is approved, whether they want tokens that do not represent the US dollar or other currencies to be tax-free.
El Salvador made Bitcoin a legal tender in the country on Sept. 7, 2021. After more than a year, the country saw the benefits of making Bitcoin legal tender. In 2022, El Salvador saw an increase in tourism, with 1.1 million visitors during the first half of the year.
The creation of a common currency that would be equivalent to the Brazilian real and the Argentine peso was announced on January 22 by Argentina and Brazil. Brian Armstrong, CEO of Coinbase, responded by suggesting that switching to Bitcoin might be the best “long-term bet” for both countries.
