-->
bitcoin

New bill presented by an Arizona senator proposes to make Bitcoin fiat currency

New bill presented by an Arizona senator proposes to make bitcoin fiat currency. Bill proposed to allow citizens and companies to choose what currency they want to use.

Cryptocurrency is really making its way through wider adoption in many countries. El Salvador’s move of making BTC as national currency parallel to the US dollar has put ideas in the head of many leaders. New bill presented by an Arizona senator, Wendy Rogers, proposes to make Bitcoin fiat currency. The bill is asking the US to provide power to the state so it can allow its citizens and companies to choose what currency they want to use.

New bill presented by an Arizona

This new bill presented by an Arizona senator is named SB 1341. Although Senator has been a controversial figure for supporting the conspiracy theory group, QAnon, this bill is really a step forward.

What will be the future of this new bill presented by an Arizona Senator?

The new bill presented by Arizona Senator is a piece of good news for the crypto market supporters. But if we really look into the matter then SB 1341’s biggest hurdle will be the constitution of the United States. The constitution of the United States doesn’t allow a state to create its own fiat currency as of now.

Unfortunately for Rogers, it will be nothing short of an uphill battle, considering that the US Constitution currently offers no provision or amendment that allows individual states to establish their own fiat currency.  The people who take the constitution as a way of living can support such a bill but the strict constructivists will not like it.

Read more content here.

About mnmansha

MN Mansha is a cryptocurrency expert, trader, and content writer with extensive experience in covering everything related to digital assets — from price analysis to Blockchain disruption. Mansha authored 100+ stories for NewsBSC.com and other fintech media outlets and he's actively writing more every day. He’s particularly interested in regulatory trends around the globe that are shaping the future of digital assets.

Check Also

XRP SEC

Lawyer Deaton Says SEC Didn’t Tell The Truth About Main Focal Point In Ripple Case

After the SEC refused to allow I-Remit and TapJets to file amicus briefs supporting Ripple …

Leave a Reply

Your email address will not be published.