Californian Bitcoiners Ready To Rewrite Constitution To Make Bitcoin Tender Legal

Bitcoin Investors of California are fighting to accept cryptocurrencies as legal tender; they are even ready to go against the constitution of the US.

Jordan Cunningham, a representative of the Republican State, introduced bill 2698 to the committee on February 19.

Democrat Sydney Kamlager also introduced a similar bill called Senate Bill 1275 as the assembly was proposed. The bill aims to allow California citizens to pay in cryptocurrencies for state services.

Bitcoin Holders in California are adamant about making their state the first to accept cryptocurrencies as the legal tender to the point that they are ready to go against the US constitution.

Dennis Porter is a proponent of the flagship currency and, working on passing the bill, calls it a bottom-up approach like Bitcoin. Porter acknowledges that the State will take a final call on it as mentioned in the constitution. But, he adds, “if we have to, we’ll go to an Article V, and we’ll rewrite the Constitution.”

On February 19, Republican State Rep. Jordan Cunningham introduced bill 2698 to the committee.

Ian Calderon, former California State Assembly majority leader and principal of political advocacy group Majority Advisors, reveals that the aim is to get Bitcoin accepted as a legal tender in the state.

Calderon added that the committee needs to be careful with their dealing of this bill as it’s of utmost importance to “leave flexibility for businesses and local governments that would accept cryptocurrency as payment.”

Preston Byrne, the partner at law firm Anderson Kill, explains that the state lawmakers are in charge of defining “legal tender.” Byrne points out that the step is primarily symbolic.

At present, various businesses in California and across the US accept payment in cryptocurrencies. Calderon says it is important to have straightforward laws regarding the use of digital assets.

Clarity around digital assets will enable the organizations and governments to work under the regulatory guidelines, Porter added. The bill also clears skepticism around the tax levied on cryptocurrencies; it might, however, result in the rapid adoption of cryptocurrencies.

A similar bill called Senate bill 1275 was also introduced as the assembly bill was presented to the California Senate. Democrat Sydney Kamlager introduced the bill, which stated that California residents would be able to pay in cryptocurrencies for state services. Calderon and his team back this bill as well.

California is not the only state who is considering accepting cryptocurrencies as legal tender. In January, Wendy Rogers, an Arizona State Senator, legalized bitcoin as legal tender in the state.

Calderon acknowledges that the efforts in California are aiming for a big statement; however, to see the bill pass remains a goal.

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Andrew is a blockchain developer who developed his interest in cryptocurrencies while his post-graduation. He is a keen observer of details and shares his passion for writing along with being a developer. His backend knowledge about blockchain helps him give a unique perspective to his writing