CA lawmaker introduces legislation to accept crypto as payment for govt services

0

[ad_1]

California State Senator Sydney Kamlager, representing the 30th Senate District, which includes parts of downtown Los Angeles, has introduced a bill that would amend the state’s code to allow for the acceptance of cryptocurrencies for certain payments.

According to Senate Bill 1275 introduced in the California Legislature on Feb. 18, Kamlager proposed authorizing a state agency “to accept cryptocurrency as a method of payment for the provision of government services.” The modification of the current state law, which allows for the establishment of state agencies to provide services to residents that require payments, would add crypto to the list of acceptable payment methods.

The adoption of crypto and blockchain seems to be a prominent issue for many candidates running for office in California in 2022. Aarika Rhodes, an elementary school teacher running to represent the state’s 30th Congressional District in the U.S. House of Representatives, is accepting Bitcoin (BTC) and other tokens for campaign contributions in her efforts to unseat anti-crypto lawmaker Brad Sherman.

California State Capitol. Photo: Pexels

The crypto bill is the latest move by lawmakers on the state level to address any potential regulatory uncertainty around digital assets. Last week, Colorado Governor Jared Polis said he expects the state to accept tax payments using cryptocurrencies by summer 2022. In addition, a Tennessee state representative introduced a bill earlier this month that would allow the state to invest in crypto and nonfungible tokens.

Related: California named ‘most crypto ready’ US state

Though many of the pushes for state-level regulation of crypto have been from Republican lawmakers, Kamlager and others suggesting similar legislation — as well as efforts at the federal level — seem to suggest that the space can be open to more than one political party. Patrick McHenry, a Republican representing North Carolina in the U.S. House of Representatives, called for “broad, bipartisan consensus” in January over issues potentially affecting the crypto industry.

Cointelegraph reached out to Senator Kamlager’s staff, but did not receive a response at the time of publication.

[ad_2]

Source link

Leave A Reply

Your email address will not be published.

bitcoin
Bitcoin (BTC) $ 62,930.00
ethereum
Ethereum (ETH) $ 1,649.67
tether
Tether (USDT) $ 0.998994
bnb
BNB (BNB) $ 599.17
usd-coin
USDC (USDC) $ 0.999732
xrp
XRP (XRP) $ 1.11
solana
Solana (SOL) $ 65.16
tron
TRON (TRX) $ 0.321853
figure-heloc
Figure Heloc (FIGR_HELOC) $ 1.03
staked-ether
Lido Staked Ether (STETH) $ 2,265.05
dogecoin
Dogecoin (DOGE) $ 0.084666
hyperliquid
Hyperliquid (HYPE) $ 56.24
usds
USDS (USDS) $ 0.999714
leo-token
LEO Token (LEO) $ 9.56
rain
Rain (RAIN) $ 0.013160
zcash
Zcash (ZEC) $ 424.68
wrapped-steth
Wrapped stETH (WSTETH) $ 2,779.67
monero
Monero (XMR) $ 348.48
canton-network
Canton (CC) $ 0.167671
wrapped-bitcoin
Wrapped Bitcoin (WBTC) $ 76,243.00
stellar
Stellar (XLM) $ 0.188143
binance-bridged-usdt-bnb-smart-chain
Binance Bridged USDT (BNB Smart Chain) (BSC-USD) $ 0.998762
cardano
Cardano (ADA) $ 0.165466
wrapped-beacon-eth
Wrapped Beacon ETH (WBETH) $ 2,466.93
whitebit
WhiteBIT Coin (WBT) $ 51.58
chainlink
Chainlink (LINK) $ 7.79
ethena-usde
Ethena USDe (USDE) $ 0.999013
wrapped-eeth
Wrapped eETH (WEETH) $ 2,465.31
the-open-network
Toncoin (TON) $ 1.64
usd1-wlfi
USD1 (USD1) $ 0.998588
susds
sUSDS (SUSDS) $ 1.08
dai
Dai (DAI) $ 0.999570
bitcoin-cash
Bitcoin Cash (BCH) $ 200.31
memecore
MemeCore (M) $ 2.88
coinbase-wrapped-btc
Coinbase Wrapped BTC (CBBTC) $ 76,366.00
hedera-hashgraph
Hedera (HBAR) $ 0.078399
litecoin
Litecoin (LTC) $ 42.49
sui
Sui (SUI) $ 0.747575
weth
WETH (WETH) $ 2,268.37
hashnote-usyc
Circle USYC (USYC) $ 1.13
paypal-usd
PayPal USD (PYUSD) $ 1.00
avalanche-2
Avalanche (AVAX) $ 6.55
usdt0
USDT0 (USDT0) $ 0.998824
shiba-inu
Shiba Inu (SHIB) $ 0.000005
crypto-com-chain
Cronos (CRO) $ 0.059818
lab
LAB (LAB) $ 9.02
global-dollar
Global Dollar (USDG) $ 0.999879
near
NEAR Protocol (NEAR) $ 2.01
audiera
Audiera (BEAT) $ 8.83
tether-gold
Tether Gold (XAUT) $ 4,071.84
Shares