California could study the possibility of making bitcoin legal tender

Do bitcoin (BTC)
a legal tender currency seems to be a goal for new states. Today, it is California that could well look into the subject.

The case is on its way, however, because of the constitution of the United States, it is not yet won.

Other American states in the wake of California?

In line with El Salvador, which made bitcoin an official currency, the fever around the cryptocurrency seems to be going slightly north to reach the United States, and more precisely California.

Indeed, on February 20, 2022, two people pledged to allow bitcoin to become a legal tender in this state. One side is Dennis Porter, an avid BTC advocate holding a topical podcast on this cryptocurrency, and the other is Ian C. Calderon, elected Democrat from 2016 to 2020 at the California State Assembly now repurposed as political adviser.

The objective of such a measure is to change the status of bitcoin, currently considered to be private property and subject to capital gains tax, to fully make it a currency of exchange. However, if several American states such as Texas, a new bitcoin eldorado, or even Wyoming, recognize cryptocurrencies in their commercial code, the higher level is difficult to reach. Indeed, apart from silver and gold, American states cannot legislate to introduce other currencies that are legal tender.

A blockage born of the constitution of the United States against which California finds an echo in Arizona. Senator Wendy Rogers has tabled a bill there to add bitcoin to the list of legal currencies in her state. In the meantime, the California measure can be supported on the VoterVoice.net site.

Source: Cryptoslate