New Senate Bill would make Bitcoin legal tender in Arizona

johnarb

johnarb

prolly nothing...


https://www.kgun9.com/news/state/new-senate-bill-would-make-bitcoin-legal-tender-in-arizona

https://bitcoinmagazine.com/markets/bill-introduced-to-make-bitcoin-a-legal-tender-in-arizona


New Senate Bill would make Bitcoin legal tender in Arizona
Cryptocurrency use possibly coming soon

90

Copyright Getty Images
Photo by: Dan Kitwood
LONDON, ENGLAND - OCTOBER 24: A visual representation of the digital Cryptocurrency, Bitcoin on October 24, 2017 in London, England. Cryptocurrencies including Bitcoin, Ethereum, and Lightcoin have seen unprecedented growth in 2017, despite remaining extremely volatile. While digital currencies across the board have divided opinion between financial institutions, and now have a market cap of around 175 Billion USD, the crypto sector coninues to grow, as it sees wider mainstreem adoption. (Photo by Dan Kitwood/Getty Images)



By: Caleb J. Fernández
Posted at 12:43 PM, Jan 28, 2022

and last updated 11:57 AM, Jan 28, 2022
TUCSON, Ariz. (KGUN) — Senator Wendy Rogers, a Republican, has introduced a new Senate Bill which would make Bitcoin a legal tender across the Grand Canyon State.

S.B. 1127 State agencies; payments; cryptocurrency could allow state agencies to accept cryptocurrencies as a payment method of fines, civil and other penalties, rent, rates, taxes, fees, charges, revenue, financial obligations, and "special assessments" due to the state.

The bill defines cryptocurrencies as:

1. "CRYPTOCURRENCY" MEANS ANY FORM OF DIGITAL CURRENCY IN WHICH

ENCRYPTION TECHNIQUES ARE USED TO REGULATE THE GENERATION OF UNITS OF

CURRENCY AND VERIFY THE TRANSFER OF MONIES, OPERATING INDEPENDENTLY OF A

CENTRAL BANK, INCLUDING BITCOIN, ETHEREUM, LITECOIN AND BITCOIN CASH.

2. "CRYPTOCURRENCY ISSUER" MEANS AN ISSUER OF ANY FORM OF

CRYPTOCURRENCY, INCLUDING BITCOIN, ETHEREUM, LITECOIN AND BITCOIN CASH.
If passed, S.B. 1127 would take effect from and after Saturday, December 31.
 
johnarb said:
prolly nothing...


https://www.kgun9.com/news/state/new-senate-bill-would-make-bitcoin-legal-tender-in-arizona

https://bitcoinmagazine.com/markets/bill-introduced-to-make-bitcoin-a-legal-tender-in-arizona


New Senate Bill would make Bitcoin legal tender in Arizona
Cryptocurrency use possibly coming soon

90

Copyright Getty Images
Photo by: Dan Kitwood
LONDON, ENGLAND - OCTOBER 24: A visual representation of the digital Cryptocurrency, Bitcoin on October 24, 2017 in London, England. Cryptocurrencies including Bitcoin, Ethereum, and Lightcoin have seen unprecedented growth in 2017, despite remaining extremely volatile. While digital currencies across the board have divided opinion between financial institutions, and now have a market cap of around 175 Billion USD, the crypto sector coninues to grow, as it sees wider mainstreem adoption. (Photo by Dan Kitwood/Getty Images)



By: Caleb J. Fernández
Posted at 12:43 PM, Jan 28, 2022

and last updated 11:57 AM, Jan 28, 2022
TUCSON, Ariz. (KGUN) — Senator Wendy Rogers, a Republican, has introduced a new Senate Bill which would make Bitcoin a legal tender across the Grand Canyon State.

S.B. 1127 State agencies; payments; cryptocurrency could allow state agencies to accept cryptocurrencies as a payment method of fines, civil and other penalties, rent, rates, taxes, fees, charges, revenue, financial obligations, and "special assessments" due to the state.

The bill defines cryptocurrencies as:

1. "CRYPTOCURRENCY" MEANS ANY FORM OF DIGITAL CURRENCY IN WHICH

ENCRYPTION TECHNIQUES ARE USED TO REGULATE THE GENERATION OF UNITS OF

CURRENCY AND VERIFY THE TRANSFER OF MONIES, OPERATING INDEPENDENTLY OF A

CENTRAL BANK, INCLUDING BITCOIN, ETHEREUM, LITECOIN AND BITCOIN CASH.

2. "CRYPTOCURRENCY ISSUER" MEANS AN ISSUER OF ANY FORM OF

CRYPTOCURRENCY, INCLUDING BITCOIN, ETHEREUM, LITECOIN AND BITCOIN CASH.
If passed, S.B. 1127 would take effect from and after Saturday, December 31.
More...
Would be a state bill though, where currency usually falls under federal guidelines. So if US Congress ever passes legislation on Bitcoin regulation it would trump whatever that bill says, which from what I hear is currently on Congress' radar.
 
Bugsy said:
Would be a state bill though, where currency usually falls under federal guidelines. So if US Congress ever passes legislation on Bitcoin regulation it would trump whatever that bill says, which from what I hear is currently on Congress' radar.
More...

Not very knowledgeable on these, but maybe it will be like in some states you can smoke weed and there are legal dispensaries, i.e. Vegas, but not in others?

Anyway, it's fascinating to see the push for Bitcoin and cryptos adoption from Texas, Florida (Miami) even in New York where there's a new mayor advocating for Bitcoin

I believe the pioneer and most advanced in Bitcoin and cryptos adoption and regulations is Wyoming
 
Unlikely to go anywhere. Crypto can't be used as legal tender until it's inflationary. The opposite will just render it a speculative asset.
 
Yeah, unconstitutional as fuck, but who cares?

" the U.S. Constitution doesn't allow individual states to create their own legal tender."

On the other hand:

"Rogers, who took office in early 2021, is a controversial figure who has ties to the anti-government group Oath Keepers and who praised conspiracy theory group QAnon."
 
Speaking of vested interest (=self serving interest) ... How many btc does Wendy already own?

johnarb said:
prolly nothing...


https://www.kgun9.com/news/state/new-senate-bill-would-make-bitcoin-legal-tender-in-arizona

https://bitcoinmagazine.com/markets/bill-introduced-to-make-bitcoin-a-legal-tender-in-arizona


New Senate Bill would make Bitcoin legal tender in Arizona
Cryptocurrency use possibly coming soon

90

Copyright Getty Images
Photo by: Dan Kitwood
LONDON, ENGLAND - OCTOBER 24: A visual representation of the digital Cryptocurrency, Bitcoin on October 24, 2017 in London, England. Cryptocurrencies including Bitcoin, Ethereum, and Lightcoin have seen unprecedented growth in 2017, despite remaining extremely volatile. While digital currencies across the board have divided opinion between financial institutions, and now have a market cap of around 175 Billion USD, the crypto sector coninues to grow, as it sees wider mainstreem adoption. (Photo by Dan Kitwood/Getty Images)



By: Caleb J. Fernández
Posted at 12:43 PM, Jan 28, 2022

and last updated 11:57 AM, Jan 28, 2022
TUCSON, Ariz. (KGUN) — Senator Wendy Rogers, a Republican, has introduced a new Senate Bill which would make Bitcoin a legal tender across the Grand Canyon State.

S.B. 1127 State agencies; payments; cryptocurrency could allow state agencies to accept cryptocurrencies as a payment method of fines, civil and other penalties, rent, rates, taxes, fees, charges, revenue, financial obligations, and "special assessments" due to the state.

The bill defines cryptocurrencies as:

1. "CRYPTOCURRENCY" MEANS ANY FORM OF DIGITAL CURRENCY IN WHICH

ENCRYPTION TECHNIQUES ARE USED TO REGULATE THE GENERATION OF UNITS OF

CURRENCY AND VERIFY THE TRANSFER OF MONIES, OPERATING INDEPENDENTLY OF A

CENTRAL BANK, INCLUDING BITCOIN, ETHEREUM, LITECOIN AND BITCOIN CASH.

2. "CRYPTOCURRENCY ISSUER" MEANS AN ISSUER OF ANY FORM OF

CRYPTOCURRENCY, INCLUDING BITCOIN, ETHEREUM, LITECOIN AND BITCOIN CASH.
If passed, S.B. 1127 would take effect from and after Saturday, December 31.
More...
 
Wrong. It's like a politician who holds dozens of apartment complexes to enact legislation that would allow the sale of apartment complexes at zero tax in that state. Nothing defines American politics more than abusing the offices of power and the trust handed by taxpaying voters to make self serving decisions, all in the name of sex, money, and power. When did the term Civil servant get erased from the constitution and all the ethics codes those criminals have to swear to uphold when entering office?

johnarb said:
Who knows, but it's like asking a real estate developer selling real estate, how much real estate does he own?
More...
 
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