Bitcoin’s price has dropped by almost 60% since its all-time high last year. But, still many people still believe in the cryptocurrency’s future Arizona state Senator Wendy Rogers is one of them, having presented legislation to make Bitcoin legal tender in the Grand Canyon State.
Rogers, a Republican and ardent supporter of former President Donald Trump, proposed modifying the definition of legal cash in the state’s statutes yesterday to include the world’s largest cryptocurrency.
The bill was filed as part of an agreement of reforms proposed by the State Senator, which also included a law prohibiting local governments from taxing the usage of blockchain technology. There is also a proposal to allow state entities to take cryptocurrencies as payment for fines, rentals, taxes, or any other expenses.
Rogers has previously attempted to make Bitcoin legal tender. She proposed a similar law over a year ago, but it was not passed.
The proposals were co-sponsored by Rogers’ Republican colleagues Jeff Weninger and J.D. Mesnard. If all her fellow Republicans support the bill, it might pass without Democratic support because Republicans possess a narrow majority in the state senate.
If passed, Arizona would be the first state in the United States to grant Bitcoin the same legal status as the dollar.
