LOGO_CRYPTO_SIGHT

New Bill by CA Regulators to Legalize Crypto Payments For Govt Affairs

By | February 22, 2022

California State Senator Sydney Kamlager of Los Angeles has reportedly rolled out legislation looking to make adjustments to the state’s code, enabling the acceptance of crypto for particular payments. 

Specifically, as detailed by Senate Bill 1275 proposed to the California Legislature on Feb. 18, Kamlager reportedly called for the authorization of a state agency “to accept cryptocurrency as a method of payment for the provision of government services.”

The modification of the existing state law, which leads to the formation of state agencies to offer services to people that need payments, would reportedly include crypto in the list of acceptable payment measures.

The adoption of crypto and blockchain reportedly appears to be one of the primary concerns for numerous candidates running for office in California this year. 

Aarika Rhodes, an elementary school teacher running to represent the state’s 30th Congressional District in the U.S. House of Representatives, is reportedly adding Bitcoin (BTC) and other tokens to the list of viable payment instruments for campaign contributions, in a bid to remove lawmaker Brad Sherman with an anti-crypto stance from the race. 

The crypto bill is reportedly the most recent initiative from regulators on the state level, to tackle possible regulatory uncertainty associated with virtual assets. 

Last week, Colorado Governor Jared Polis reportedly shared his expectations of the state to add crypto to the list of accepted payment measures for tax by summer this year.

Furthermore, a Tennessee state representative reportedly rolled out a bill in February, which aims to make it possible for the statement to make investments in crypto and non-fungible tokens.

Tags: , , , , , , ,

Comments