TUCSON, Ariz. (KGUN) — Senator Wendy Rogers, a Republican, has introduced a new Senate Bill which would make Bitcoin a legal tender across the Grand Canyon State.
S.B. 1127 State agencies; payments; cryptocurrency could allow state agencies to accept cryptocurrencies as a payment method of fines, civil and other penalties, rent, rates, taxes, fees, charges, revenue, financial obligations, and "special assessments" due to the state.
The bill defines cryptocurrencies as:
1. "CRYPTOCURRENCY" MEANS ANY FORM OF DIGITAL CURRENCY IN WHICH
ENCRYPTION TECHNIQUES ARE USED TO REGULATE THE GENERATION OF UNITS OF
CURRENCY AND VERIFY THE TRANSFER OF MONIES, OPERATING INDEPENDENTLY OF A
CENTRAL BANK, INCLUDING BITCOIN, ETHEREUM, LITECOIN AND BITCOIN CASH.
2. "CRYPTOCURRENCY ISSUER" MEANS AN ISSUER OF ANY FORM OF
CRYPTOCURRENCY, INCLUDING BITCOIN, ETHEREUM, LITECOIN AND BITCOIN CASH.
If passed, S.B. 1127 would take effect from and after Saturday, December 31.
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