The U.S. State of Arizona Submits A Bill To Make Bitcoin A Legal Tender

Last week, Sen. Wendy Rogers, a Republican member of the Arizona Senate, has introduced a bill to make bitcoin legal tender in the state. However, according to Article I, Section 10, Clause 1: the U.S. Constitution doesn't permit any state to create its private legal tender. 

In the 1800s, states attempted to evade this law by printing their state-owned banknotes. Congress shot down the attempt by placing an extra 10% tax on any payments other than country-approved. Likewise, If the legislation passes and the law goes into effect in the far-fetched possibility, the federal law could complicate things.

The bill, SB 1341, seeks to add "Bitcoin" to the list of legally accepted tender, which means BTC could be used "for the payment of debts, public charges, taxes and other dues", but for the bill to become a law, it has to pass the Arizona state senate and house before Gov. Doug Ducey could officially authorize its use. 

However, politician and businessman Donald Huffines, present candidate for Texas governor, explicitly said he would make BTC a legal tender if elected. The bill, introduced on Tuesday, had its second reading on the Senate floor the following day. No information has been revealed about the date for the vote or if it is even taking place.

 Rogers assumed office in Jan 2021, after which an announcement through tweet revealed she was appointed to the Blockchain and Cryptocurrency Study Committee. On 10 Sept, She tweeted, "I am pleased to announce that I have been appointed to the Blockchain and Cryptocurrency Study Committee by Senate President @FannKfann."  She further continued, "I am going to work to help make Arizona crypto-friendly#BTC #BNB #Crypto."

Currently, El Salvador is the only country that has accepted bitcoin as a legal tender alongside the U.S. dollar. Following in its footsteps Polynesian nation of Tonga will soon be accepting Bitcoin as a legal tender. Lord Fusitu'a, a former member of the parliament, tweeted a five-step well, laid plan explaining how the bill would pass probably by Sep or Oct.

Although many crypto-friendly Senators have been vocal about adopting Bitcoin, this is for the first time that someone is proposing to make BTC a legal tender.

The news in the crypto town is that more countries will proceed in making Bitcoin a legal tender this year. Apart from El Salvador, other countries in the Latin America are mulling for a similar move.

Bitcoin is down 2.68% in the last 24 hours and trading at $37,157.97 at the time of writing.