State senator in favor of making Bitcoin legal tender in Arizona

State senator in favor of making Bitcoin legal tender in Arizona

State senator in favor of making Bitcoin legal tender in Arizona

A bill relating cryptocurrency and making Bitcoin a legal tender in Arizona has been launched in Arizona, United States, by a senior senator, Wendy Rogers.

Rogers shared data from an investment firm Goldman Sachs BTC is the best-performing asset in the world. She also mentions that she has launched a set of crypto bills. 

The proposed bill focuses on making Bitcoin a legal tender in the states. BTC will get the same status as USD if it is passed into law. BTC will become an accepted currency of exchange for debt payments, dues in the state, and public charges.

The last bill, introduced in 2022 relating to cryptocurrencies, was not approved. Even after this, Roger continued her efforts to bring BTC as a legal tender in the US.

She tweeted, in April 2022, government officials in the US opined her support for decentralized Bitcoin and went against the central bank’s decisions.

Rogers also had put her efforts into introducing a bill that would make crypto a tax-exempt property. If this bill is approved in 2024, the voters will be able to make a decision on whether to exempt USD and tokens that don’t represent foreign currencies to be exempted from taxes.

EL Salvador already made Bitcoin a legal tender in their country on Sept 7, 2021. This decision has proved to benefit the country in many ways. Tourism of the country has increased by 1.1 million people visiting the country in the first half of 2022. 

Argentina and Brazil are also working towards developing a common currency, which will work parallel with the Argentina peso and Brazilian real.

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