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If passed into law it will give Bitcoin the same status as the U.S. dollar in the State of Arizona
- What – State Senator Wendy Rogers has launched a set of cryptocurrency bills, including one aimed at making Bitcoin (BTC) a legal currency in the state of Arizona
- Why – She cited Goldman Sachs data that BTC was the best-performing asset in the world in 2023
- What next? – Upon approval, the bill will make Bitcoin an accepted medium of exchange in Arizona allowing state agencies, businesses, and individuals to accept BTC.
In a 4 January tweet, Senator Rogers announced that she had launched a set of crypto bills in Congress.
“Breaking: #Bitcoin is the best performing asset in the world this year according to data from Goldman Sachs.”
Launched my #Crypto bills today, as well as Photo Radar Prohibition, which included nearly all my Republican senator colleagues as cosponsors @JeffWeninger @JDMesnard pic.twitter.com/ueUeFSEybo
— Wendy Rogers (@WendyRogersAZ) January 25, 2023
The bill that stood out was the one aimed at making Bitcoin officially recognized as legal tender in Arizona. Other Republican senators, Jeff Weninger and J.D. Mesnard, representing Arizona, also co-sponsored the cryptocurrency bills. Should the bill pass into law, Bitcoin will have the same status as the US dollar in Arizona, becoming an accepted medium of exchange for debt payment, public charges, taxes, and dues in the state.
The senator unsuccessfully pushed a similar bill in January 2022. Thereafter, she went to social media to express her disapproval of central bank digital currencies (CBDCs) saying, “Centralized digital money controlled by the central bankers is slavery. Decentralized Bitcoin is freedom.”
Recently, Senator Wendy alongside senators Sonny Borelli, and Justine Wadsack introduced new legislation proposing voters be allowed to decide in 2024 whether cryptocurrencies should be tax-exempt property. Public debts, certain household goods, and all federal, state, county and municipal property are currently tax-exempt in the state.
At press time, Bitcoin price was trading at $22,854, down 2.27% over the past 24 hours, according to data from CoinMarketCap.
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