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Arizona Senator Introduces Bill To Make Bitcoin Legal Tender In The State


Arizona Senator Introduces Bill To Make Bitcoin Legal Tender In The State

sponsor and current status of bill

An Arizona State Senator has recently introduced a bill that, if passed, would make Bitcoin legal tender in the State of Arizona. The sponsor of the bill is Senator Warren Petersen, who aims to bring the legal recognition to Bitcoin that it lacks in the 50 states. The bill is currently in the early stages of the legislative process.

Provisions and potential benefits of the Bill

The bill would put in place a number of provisions that would make Bitcoin legal in the State of Arizona. These include:

  • Allowing individuals and businesses to pay taxes in Bitcoin
  • Creating a licensing process for businesses to engage in cryptocurrency-related activities
  • Prohibiting age discrimination on the basis of cryptocurrency ownership

If passed, the bill would bring a number of potential benefits to the State of Arizona. These include:

  • Encouraging economic growth by making the state more attractive to businesses that use or invest in cryptocurrency
  • Providing a safe, secure and transparent way to make payments and store value
  • Helping to combat money laundering, fraud and other financial crimes

Conclusion

The bill is still in the early stages of the legislative process and it is unclear if it will pass or not. However, it does provide a glimpse into how states may soon begin to embrace Bitcoin and cryptocurrency as a form of legal tender.

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