New bill aims to introduce Bitcoin as a legal tender in California

On Feb 20, 2022

Dennis Porter and Ian C. Calderon introduced a bill in California to adopt Bitcoin as a legal tender in the state.

On 20 February, political advisor Ian C. Calderon wrote on Twitter that he introduced a bill in collaboration with Bitcoin expert Dennis Porter. The bill aimed to adopt Bitcoin as a legal tender in California.

Together, @Dennis_Porter_ and I are working on a bi-partisan effort to legislatively explore #Bitcoin as legal tender in the State of California. More to come. https://t.co/FlcFHRr9B1
— Ian C. Calderon (@IanCalderon) February 20, 2022

However, the majority of the people supported this bill as the next phase of Bitcoin adoption but on the other side, some people claimed that they are trying to use crypto as a payment method, not legal tender, a tweet like this can be seen below.

The bill does not make #Bitcoin legal tender. It's a provision that potentially allows people to pay the state in cryptocurrencies. California, @FlowhubCo & @nano $XNO! Here is the bill:https://t.co/CC5NZYhtmd…
— Crypto Selassie (@CryptoSelassie_) February 20, 2022

Under the Strategic Bitcoin Reserve (SBR) Concept,…

Nov 22, 2024

Trading Volume Higher Than Stock Platforms on…

Nov 22, 2024

MicroStrategy Again Raises $3 Billion to Buy Bitcoin…

Nov 22, 2024

Arizona to adopt Bitcoin as Currency

After the entry of El Salvador into the crypto industry as the first country to adopt Bitcoin as a currency, many other countries’ players are also trying to bring similar rules and laws to adopt Bitcoin.

In January of this year, an official of Arizona State introduced its total of three bills to allow the state agency to use Bitcoin in payment methods. The first drafted bill was aimed to allow the state to adopt Bitcoin besides US dollar use and the last two bills were introduced to support the first bill by considering the existing US constitutions.

First Arizona and now California, these things are showing that real use cases of crypto blockchain networks are coming, where government authorities will approve to use the same, thanks to the decentralized nature of this blockchain technology, which are supported in decentralized systems instead of any Centralized service.