Know About Countries Introducing Bill To Make Bitcoin A Legal Tender 

With various speculations and controversies going on regarding cryptocurrency, some countries have passed bills to legalise them. Arizona has introduced a bill to make Bitcoin legal tender; El Salvador has allowed BTC as legal tender last year.  

After El Salvador allowed its consumers to use Bitcoin in all transactions, alongside the US dollar, Arizona, a southwestern U.S. state Senator Wendy Rogers has also introduced a bill to make Bitcoin a legal tender.  

The bill strives to add Bitcoin (BTC) to the list of instruments regarded as legal tender in Arizona and make the peer-to-peer digital currency a lawful medium of exchange there, allowing citizens to pay debts, public charges, taxes and dues with BTC. 

If this bill is passed, then Arizona will become the first U.S. state to consider bitcoin as legal tender. 

El Salvador, was the first country to permit consumers to use the cryptocurrency in all transactions, alongside the US dollar, in September 2021. However, recently, the executive board of the International Monetary Fund (IMF) urged El Salvador to change its decision to make Bitcoin legal tender due to the financial risks and liabilities created. 

Texas might also pass legal tender for Bitcoin soon. Governor candidate Huffines said he will try and make bitcoin legal tender in his state if he wins the election, as reported by various news media. 

However, according to various media reports, White House wants to set out a cohesive set of policies to regulate Bitcoin and cryptocurrencies as current legislation and its enforcement are scattered across sectors and agencies. 

Christophe De Beukelaer, Belgian Member of Parliament has become the first politician from Europe to convert his salary into Bitcoin.  

“US and Asian giants are investing heavily in crypto. And the EU? Are we still going to wake up in 10 years and find that we missed the train? Centralised trade finance is not going away. These two worlds must cooperate,” Beukelaer tweeted.  

In another tweet, he thanked Eric Adams, the mayor of the US' New York City for inspiring him to take this pro-crypto step. 

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