Posted:

29 one 2022 17:20 GMT

The US Constitution does not allow states to create their own currencies.

Republican Senator Wendy Rogers has introduced a bill that, if passed, would make bitcoin legal in Arizona, reach CoinDesk. The initiative seeks to allow cryptocurrency to be used to pay taxes or public expenditures, for example.

To become law, the document must be approved by the Arizona Senate and House of Representatives, as well as signed by Republican Governor Doug Ducey.

However, CoinDesk highlights the fact that the project could become law is a far-fetched dream, as the US Constitution does not allow states to create legal tender coins.

It must be remembered that in June of this year became El Salvador The first country in the world to allow Bitcoin to be used as legal tender in its territory. However, the International Monetary Fund urge This week the Central American country cancels this initiative. “There are significant risks associated with the use of bitcoin for financial stability, financial safety and consumer protection, as well as potential financial emergencies,” says an IMF statement.

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