On Feb 19, 2022, Political advisor Ian C.Calderon tweeted that he and BTC expert Dennis Porter were working on a Bipartisan legislature. He said he introduced a bill that seeks to make BTC a legal tender in California.
California May Soon Adopt BTC as Its Legal Tender
California Lawmaker Ian C.Caderon has announced that he was working on making California use BTC as legal tender. The former Majority leader of the California State Assembly added that more happenings would come. He is working alongside Bitcoin (BTC) expert Dennis Porter.
The news on the California bill to adopt BTC as legal tender comes after Arizona and the islands of Tonga expressed similar interests in legalizing the premiere coin. Now, it seems that Califonia is prepping to disrupt the crypto adoption race another time.
Calderon’s tweet attracted mixed reactions as the majority supported his plans. However, critics also came at him, claiming that it is still too early to make BTC legal tender. They explained that it would rather help to settle taxes by citizens.
Why Calderon and Porter Want BTC to Be Legal Tender in California
In his tweet, Porter added a link to a petition-hosted voter voice that explained more about the need for BTC adoption.
The post explained that it was time for Americans to have money that is free from inflation brought by monetary debasement. It described the debasement as an invisible tax on Americans from an unelected board of bankers that do not consider the consequences of their rules on normal citizens. It also campaigned for taxation with representation.
The post added that many Americans have chosen BTC as a medium of exchange but the Federal government disregards it. As a result, citizens lack the chance to use the currency with no capital gains taxes. It claimed that it was time for the Americans to adopt Bitcoin as legal tender.
The post also has a preamble saying that the People of the United States decree and designate Bitcoin as legal tender to defend themselves from monetary debasement. It also added that the move is to promote societal welfare, establish freedom, provide for individual defense and insure domestic productivity.
California is in a crisis that is making it decline quickly. It is one of the states with the highest taxes and harsh socialist regulations, ruining it. As a result, the State is also undergoing a brain drain unfavorable to its development. While other Mayors like Maimi’s are trying to convert their cities to BTC hubs, the Mayor of Los Angeles is busy thinking about battling garbage disposal.
Now the State is expected to take a new course. Earlier this year, El Salvadoran President, LATM country that uses BTC as legal tender, claimed that more authorities would legalize BTC. He explained that it would be adopted as legal tender by many authorities, and now turns of events like in Califonia are proving him right.
The State has been ranked with a score of 5.72 out of 10 in the crypto-ready index. However, only time will tell how the authorities receive the BTC bill.
Source: https://crypto.news/california-lawmaker-bill-adopt-btc-legal-tender/