Summary:
State Senator Sydney Kamlager of California has presented legislation that would change the state’s code to enable the acceptance of cryptocurrency for certain payments. Many candidates running for office in California in 2022 appear to be concerned about the adoption of cryptocurrency and blockchain. In her bid to topple anti-crypto politician Brad Sherman, Aarika Rhodes, an elementary school teacher, is taking Bitcoin and other tokens as campaign contributions.
Details:
Politicians running for office in California, both at the state and federal levels, have made suggestions that appear to be supportive of cryptocurrency adoption. State Senator Sydney Kamlager of California, who represents the 30th Senate District, which includes portions of downtown Los Angeles, has presented legislation that would change the state’s code to allow for the acceptance of cryptocurrencies for certain purchases.
Kamlager advocated permitting a state agency “to accept cryptocurrency as a means of payment for the provision of government services” in Senate Bill 1275, which was submitted in the California Legislature on February 18. The present state legislation, which authorises the formation of state entities to offer services to people who demand money, will be amended to include cryptocurrency among the allowed payment options.
Many candidates running for office in California in 2022 appear to be concerned about the adoption of cryptocurrency and blockchain. Aarika Rhodes, an elementary school teacher running for the U.S. House of Representatives in the state’s 30th Congressional District, is taking Bitcoin (BTC) and other tokens for campaign contributions in her bid to replace anti-crypto politician Brad Sherman.
The crypto bill is the latest step by state politicians to handle any possible regulatory confusion around digital assets. Colorado Governor Jared Polis stated last week that the state plans to accept cryptocurrency tax payments by the summer of 2022. Furthermore, earlier this month, a Tennessee state legislator submitted legislation that would allow the state to invest in crypto and nonfungible tokens.
Though all of the pushes for state-level crypto regulation have come from Republican politicians, Kamlager and others proposing similar legislation, as well as federal attempts, appear to show that the sector can be available to more than one political party. In January, Patrick McHenry, a Republican from North Carolina in the United States House of Representatives, advocated for “wide, bipartisan consensus” on concerns possibly affecting the crypto business.
Credits: www.cointelegraph.com