Arizona Is on Its Way to Make Bitcoin a Legal Tender

Arizona Is on Its Way to Make Bitcoin a Legal Tender
Image Source: Getty Images
Read News

Read News For Me

The current senator of Arizona, Wendy Rogers, introduced a bill on 28th January 2022 to make Bitcoin a legal tender in Arizona. The bill has notified that Bitcoin too will be a legal tender in the state along with U.S. dollars. Digital currency will soon be a lawful exchange medium after the bill passes. This bill states that citizens will be able to pay public charges, dues, taxes, and debts through Bitcoin. Once the bill gets enacted, the senator has predicted that U.S. dollars will be less in demand as most financial transactions will be done through Bitcoin. Along with this, the citizens of the state will also have the right to ask for their salary in Bitcoins and will have the right to how and when to use their BTC.

The double spending problem that has arisen in the state due to credit cards will be done with once Bitcoin becomes a legal tender. If the bill gets approved, Arizona will become the first state of the United States where Bitcoin will be a legal tender. El Salvador was the first country to make Bitcoin a legal tender in their country, and Arizona will become the first state if the bill moves forward and gets approved. Bitcoin will make citizens store their wealth in an incorruptible way that is sounder than U.S. dollars. This is a win-win both for the state and the citizens of the state. 

Other states too have shown interest in such moves

Texas, too is trying its best to make Bitcoin a legal tender in their state. They are also in talks to launch a bill and present it as they believe this will be a revolutionary move. Huffines, one of the most promising governor candidates of the state has clearly said in his rallies that if he wins the upcoming elections, he will push this move to make Bitcoin a legal tender in Texas. The discrimination against the Bitcoin holders is quite evident in the country, and once two or probably more states adopt Bitcoin as a legal tender, this problem will also be solved.