Bitcoin

Bitcoin Bill Introduced to Allow Californians to Pay for State Services with Crypto

Bitcoin Bill Introduced to Allow Californians to Pay for State Services with Crypto

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On another front, policy consultants are trying to advance a policy to make Bitcoin legal tender in the Golden State.


Key points

  • On Saturday, California State Senator Sydney Kamlager introduced a bill to allow Golden State residents to pay for state services using cryptocurrency.
  • Over the weekend, a separate initiative by political advisers was also launched to make Bitcoin legal tender in California.
  • These efforts mark the latest push by states to adopt Bitcoin in one way or another. Last week, Colorado announced that it would accept Bitcoin for state taxes and fees in June. Last month, a Republican from the state of Arizona introduced a bill accepting Bitcoin as legal tender.

It seems that more and more state-level politicians are jumping on the bitcoin bandwagon. On Saturday, State Sen. Sydney Kamlager (CA, D) introduced a bill to allow California residents to pay for state services using cryptocurrencies. The Payments Bill reads as follows:

“SB 1275, as presented, Kamlager. State Agencies: Cryptocurrency.

Current legislation establishes state agencies for various purposes, including providing certain services to the public for which payment is required.

This bill would authorize a state agency to accept cryptocurrency as a form of payment for the provision of government services.”

The bill must be passed by the bicameral California legislature and signed by the governor before becoming state law. But that wasn’t all the Bitcoin policy chatter that happened over the weekend.

On Sunday, Golden State political advisers are pushing a proposal, completely separate and unrelated to the bill from State Senator Kamlager’s, that would seek to make Bitcoin legal tender. Former California State Assembly Majority Leader turned political consultant Ian C. Calderon released a teaser Tweeter yesterday that he is working with Bitcoin attorney Dennis Porter on drafting the new proposal. Calderon’s tweet reads:

Together, @Dennis_Porter_ and I are working on a bipartisan effort to legislatively explore #Bitcoin as legal tender in the State of California. More soon.

Although new to California, the idea of ​​considering Bitcoin as an alternate official currency for a state is not new. In January, Republican State Senator Wendy Rogers of Arizona submitted Bill 1341, which seeks to designate Bitcoin as legal tender in the Grand Canyon State, meaning it would be accepted as officially recognized method of payment for “any authorized medium of exchange”. by the Constitution or the Congress of the United States for the payment of debts, public charges, taxes and royalties. »

It should be noted that any type of state legislation that proposes a new kind of legal tender – bitcoin or otherwise – faces a tricky approval trajectory, not the least of which is the US Constitution, which prohibits states to issue their own currencies. We will have to wait and watch if these state-level Bitcoin legal tender policy proposals fly or die.

Colorado will accept Bitcoin for state services starting this summer

Colorado Governor Jared Polis has repeatedly said he wants the Centennial State to be America’s “first digital state” and he appears to be on the right track when it comes to adoption by the state of bitcoin for payment of utilities.

Last week, Governor Polis said his state would begin accepting bitcoin as payment for state taxes in June of this year, which will expand to all state departments by early fall. . Governor Polis says the state will not “hold” the crypto at this time, but will allow residents to pay state fees or taxes using the crypto – the state will automatically convert it to US dollars before deposit funds in state coffers.

Although these are only the early days of cryptocurrency adoption, it is hard to ignore the growing push by states to move into the crypto space.

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