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(Kitco News)<\/a> An Arizona state senator proposed a bill that would make Bitcoin legal tender. In an unlikely event that it will pass, Bitcoin could be used as cash to pay for purchases, bills and taxes.<\/p>\n
<\/p>\n Bill 1341 was introduced by the Republican State Senator Wendy Rogers of Arizona. The measure aims to authorize Bitcoin as a means of payment on “any medium of exchange that is authorized by the United States Constitution or Congress for the payment of debts, public charges, taxes and dues.”<\/p>\n
<\/p>\n The bill states: “Bitcoin means the decentralized, peer-to-peer digital currency in which a record of transactions is maintained on the Bitcoin blockchain and new units of currency are generated by the computational solution of 21 mathematical problems and that operates independently of a central bank.”<\/p>\n
<\/p>\n It is unlikely that this bill will pass or be effective since the U.S. Constitution prohibits<\/a> states from creating their own currencies. But it will trigger a debate on the topic.\u00a0<\/p>\n
<\/p>\n In order to pass, the proposal needs to be voted on by the Arizona state Senate and House before being passed on to Gov. Doug Ducey to be signed into law.<\/p>\n
<\/p>\n “Arizona could certainly pass a law like this and the state government could choose to accept Bitcoin as payment for Arizona taxes, but this would not change the legal treatment of Bitcoin as property from a federal tax perspective,” Blockworks quoted Preston Byrne, partner at law firm Ander Kill, as saying.<\/p>\n
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<\/p>\n Back in September, Rogers said that she would be working on making Arizona more “crypto-friendly.”<\/p>\n
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