This is Wendy Rogers, who already tried something similar a year ago. The project was presented in the first session of 2023.
Arizona Senator Wendy Rogers confirmed her conviction on Bitcoin, and insisted on her proposal to adopt the most famous cryptocurrency. The representative promoted a series of suggestions that seek to promote the incorporation of this type of asset in the aforementioned jurisdiction.
It is not the first time that Rogers has moved in this direction. As it was reported almost a year ago, the bill called “SB 1341” intended something similar to what it is now relaunching, but it was truncated along the way.
New Initiative Launched
The initiative in question, ‘SB1235’, aims to cause a change in the Arizona Revised Statutes to place Bitcoin in the plane of legal tender currencies. Something that, for example, can allow citizens to pay debts, public charges, taxes and other fees with that cryptocurrency.
If approved, transactions currently made in US dollars in Arizona could be made legally with Bitcoin. It also means that businesses and other entities based in that location would have the option to use Bitcoin for payment, investment, or however they see fit.
The document mentions only Bitcoin, which it describes as “a peer-to-peer decentralized digital currency in which a record of transactions is maintained on the Bitcoin Blockchain and new units of currency are generated by computationally solving mathematical problems, and that it operates independently of a central bank.”
Two More Cryptocurrency Projects in Arizona
This week, the senator also presented two other legislative projects along the same lines. One of those, identified as ‘SB1239’, proposes to allow the use of cryptocurrencies as a payment mechanism for financial obligations in the state of Arizona.
The proposal, which defines cryptocurrencies as “any form of digital currency in which encryption techniques are used,” mentions Bitcoin, Ethereum, Litecoin, and Bitcoin Cash as examples.
Another proposal, by the same author, seeks that cryptocurrencies can remain exempt from taxing Arizona property taxes. This idea is supported by Senators Sonny Borrelli and Justine Wadsack. The project, identified as SCR1007, mentions stablecoins as “those tokens that are not a representation of the US dollar or a foreign currency.”
The main stumbling block facing these types of ideas is the United States Constitution itself, which currently does not allow a state to create its own legal tender. For those who have a radical perspective on the interpretation of the Constitution, the path presents serious problems. However, hopes rest on those who consider it a “living document” and can welcome an adaptation to modern times.
The abovementioned arises from the initiatives presented in the development of the first session of the Arizona Senate in 2023. Now it remains to be seen if they have a real chance of moving forward or, as has already happened, they die trying.
By Audy Castaneda
