Arizona senator's new proposal aims to make bitcoin legal tender

time:2022-01-29 09:00 source:Internet

On January 29, U.S. Senator Wendy Rogers of Arizona introduced a bill to add a statute to the state’s law to make bitcoin legal tender. The bill has had its second reading in the Senate, whether and When the vote will take place has not been disclosed. The bill specifically mentions “Bitcoin” rather than cryptocurrencies in general, and makes no mention of any other digital currency other than the first and only P2P system that successfully solves the double-spending problem of digital cash. Cryptocurrency law experts say the U.S. Constitution could challenge the bill’s passage, with Preston Byrne, a partner at the law firm Anderson Kill, saying: “The mintage clause in the Constitution means that the decision to make U.S. legal tender rests with Congress. If passed, The bill will be largely symbolic." Wendy Rogers, who has pledged to make Arizona a crypto-friendly state, was named a member of the Blockchain and Cryptocurrency Study Committee in September 2021. Recently, Texas gubernatorial candidate Don Huffines also said that if elected, Bitcoin will be legal tender in Texas.

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