Recently in Arizona, a Western State in the United States, a bill was introduced that if adopted, would make bitcoin a form of legal tender in the state of Arizona. This bill (SB-1341) would make bitcoin a form of currency that could be used to pay debts, taxes, and other required payments.
The main issue with this bill is that the United States Constitution does not give states the power to create their own legal tender.
While it seems very unlikely that this bill will be passed, given that it would need to pass many further legislative steps and garner much more support than it currently has, the fact that a bill such as this was introduced is interesting.
This bill may serve to draw further attention to the crypto space, making it a bigger phenomenon than it already is, or it may be shot down and give the public more of a reason to doubt crypto as the future of payments.
If the bill was passed, Arizona and El Salvador would both be locations where bitcoin is legal tender alongside the United States Dollar.
Link to previous post
@oilmagnate/my-first-crypto
🛢️
Any comments on my post are welcome and appreciated
