Arizona State Senator Suddenly Pushes for Bitcoin Legalization

Facebooktwitterredditpinterestlinkedinmailby feather

Everyone has an opinion about Bitcoin and cryptocurrencies whether they grasp the concept or not. That goes for politicians too. While some aren’t against the idea, they’re trying to put things under the government’s control if legalization ever happens. Others are very open to the decentralized concept, including some surprising representatives such as Arizona state senator Wendy Rogers.

In the past week, Rogers voiced her positive opinion about cryptocurrencies, especially Bitcoin. And it’s not just talk. The governor has introduced a new bill that should be soon voted into law, essentially making Bitcoin legal tender. If it passes, Arizona will become the first US state to legalize Bitcoin which will be a huge move for cryptocurrencies in the USA.

‘The Best Performing Asset in the World’

Even in the middle of a crypto winter that no one’s sure about how it ends, Rogers has voiced strong support for Bitcoin. She even called it the best performing asset in the world, and that says a lot. After she tweeted that line, she submitted the bundle of bills for voting. This isn’t Rogers’ first attempt for such a thing. She had a similar bill defeated in 2022, but she’s not giving up the fight.

The 68-year old state senator from Arizona has always been a fan of crypto. She joins an exclusive and short list of US senators that have proposed such as bill – the two others are Pat Toomey and Cynthia Lumis. While things are looking slim, it doesn’t look like Rogers will back down. If the bill surprisingly passes, it will put Bitcoin in Arizona on the same level as the US Dollar. In short, it will become legal tender that can be used throughout the state for taxes and all kinds of payments legally.

Which isn’t a bad thing at all. Rogers also participated in drafting a bill that will make cryptocurrencies a tax-exempt property in the state of Arizona. It’s an unprecedented move from a state senator for sure, but it has many fans among her voters. The others may need some time, but we think they’ll end up supporting the bill too.

New York on the Move Too

While it’s not the same as Arizona’s proposed bill, the state of New York was just introduced to NY’s State Assembly. If passed, the bundle of documents will allow New Yorkers to pay fines, taxes, and other payments charge by the state in Bitcoin. It’s still a bold move and the first step toward a liberalized Bitcoin market in one of the biggest US states.

Of course, it doesn’t obligate agencies to accept crypto, but it does give them the framework to accept such payments if they want to. We’ll take what we can get, and hope that other states follow NY’s move. The Biden administration has already asked states to present their cases, and we may see a few new ones doing so soon.

But, all eyes are on Arizona and Rogers’ second try. It’s proof that changes are happening, albeit slowly. With other state senators pushing for similar bills, Bitcoin may finally be legal in the USA.

February 1, 2023: • No Comments

Comments are closed.