Wendy Rogers, an Arizona state senator, United States, has unveiled bills around cryptocurrency. It is believed that one bill intends to make Bitcoin a legal tender in Arizona, as reported by Cointelegraph.
According to Cointelegraph, Rogers made reference to insights from Goldman Sachs to state that BTC is the top-performing asset globally, along with revealing her launch of crypto bills. It is believed that if the bill gets approved, BTC will carry the same identity as the US dollar. Furthermore, Bitcoin can then be utilised as a medium of exchange for debt payment, public charges, taxes and dues of the state.
On the basis of information by Cointelegraph, in 2022, the state senator also introduced a same bill which failed legalisation. Despite that, Rogers reportedly doesn’t intend to stop with his aim to make Bitcoin legalised in the state. Rogers also involved herself in drafting a bill to make crypto a tax-exclusive asset. If accepted, voters will be able to decide in 2024 if they want tokens that are not related to foreign currencies or US dollar to be removed from taxes.
Moreover, Cointelegraph noted that on September 7, 2021, El Salvador declared Bitcoin to be a legal tender. Over a year later, Bitcoin being a legal tender helped to reap benefits, with the country reportedly witnessing an increase in tourism in 2022.
(With insights from Cointelegraph)