{"id":11103,"date":"2022-02-22T15:23:20","date_gmt":"2022-02-22T15:23:20","guid":{"rendered":"http:\/\/ci029a6b70500024ff"},"modified":"2022-02-22T15:23:20","modified_gmt":"2022-02-22T15:23:20","slug":"new-bill-would-let-california-state-agencies-accept-bitcoin","status":"publish","type":"post","link":"https:\/\/bitcoinmagazine.com\/markets\/new-bill-would-let-california-state-agencies-accept-bitcoin","title":{"rendered":"New Bill Would Let California State Agencies Accept Bitcoin"},"content":{"rendered":"<div id=\"bsf_rt_marker\"><\/div><p>California is the latest U.S. state to jump on the bitcoin payments bandwagon.<\/p>\n<p>Senator Kamlager filed Bill 1275 to the state\u2019s legislature on Friday to add a section to the government code that relates to services provided by Californian agencies to the public.<\/p>\n<p>\u201cThis bill would authorize a state agency to accept cryptocurrency as a method of payment for the provision of government services,\u201d per the <a href=\"https:\/\/leginfo.legislature.ca.gov\/faces\/billNavClient.xhtml?bill_id=202120220SB1275\" target=\"_blank\" rel=\"noopener\">text<\/a>.<\/p>\n<p>The bill joins a growing cohort of U.S. states looking to implement legislation that incentivizes the usage of bitcoin as a medium of exchange.<\/p>\n<p>Last week, Colorado Governor Jared Polis pledged that its citizens would be able to <a href=\"https:\/\/bitcoinmagazine.com\/business\/colorado-to-accept-bitcoin-for-state-taxes\">use bitcoin and cryptocurrency to pay state taxes by this summer<\/a>, adding that they are a \u201cvery forward-looking, innovative state.\u201d However, Polis highlighted that the state would immediately convert the cryptocurrencies received as payment into U.S. dollars.<\/p>\n<p>Other states are still in the process of studying existing Bitcoin legislation and gauging alternatives for the future. New Hampshire Governor Chris Sununu last week <a href=\"https:\/\/bitcoinmagazine.com\/business\/new-hampshire-establishes-bitcoin-crypto-study-commission\">signed an executive order<\/a> establishing a commission to investigate current Bitcoin-related laws and propose new ones as the state seeks to encourage innovation and attract businesses in the sector.<\/p>\n<p>Missouri, on the other hand, is seeking to incentivize bitcoin adoption through tax cuts. State Representative Phil Christofanelli <a href=\"https:\/\/bitcoinmagazine.com\/markets\/new-introduced-bill-would-exempt-bitcoin-from-missouri-taxes\">on Feb. 11<\/a> said that Missouri should stay \u201copen to innovation\u201d and proposed that bitcoin be exempt from property taxes at the state, county, and local levels.<\/p>\n<p>A couple of days before the Christofanelli proposal, Tennessee State Representative Jason Powell <a href=\"https:\/\/bitcoinmagazine.com\/markets\/bill-introduced-to-let-tennessee-buy-bitcoin\">introduced two bills<\/a>. The first would allow the state and its municipalities to buy bitcoin for their treasuries, while the second sought to establish a bitcoin and cryptocurrency study committee to \u201chelp determine how to make [Tennessee] the most forward thinking and pro-business state for cryptocurrency and blockchain and to foster a positive economic environment for blockchain and cryptocurrency.\u201d<\/p>\n<p>On a federal level, the White House is <a href=\"https:\/\/bitcoinmagazine.com\/markets\/biden-administration-to-regulate-bitcoin-as-a-matter-of-national-security-report\">eager<\/a> to set out a cohesive set of policies to regulate Bitcoin and digital assets as currently, legislation and its enforcement are scattered across sectors and agencies. To do so, the Biden administration is <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2022-01-21\/white-house-is-set-to-put-itself-at-center-of-u-s-crypto-policy?sref=3REHEaVI\" target=\"_blank\" rel=\"noopener\">expected<\/a> to release an executive order soon to task federal agencies with assessing the risks and opportunities that Bitcoin and cryptocurrencies could pose.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The bill is the latest to join a growing cohort of state legislation being proposed to encourage bitcoin\u2019s usage for payments.<\/p>\n","protected":false},"author":2572,"featured_media":9599,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[34],"tags":[254,1267,93],"class_list":{"0":"post-11103","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-markets","8":"tag-bill","9":"tag-california","10":"tag-news"},"author_data":{"id":2572,"name":"Namcios","nicename":"namcios","avatar_url":"https:\/\/bitcoinmagazine.com\/wp-content\/uploads\/2024\/12\/pfp-96x96.png"},"featured_image_url":"https:\/\/bitcoinmagazine.com\/wp-content\/uploads\/2024\/11\/california-accuses-bitcoin-foundation-of-unlicensed-money-transmission.png","_links":{"self":[{"href":"https:\/\/bitcoinmagazine.com\/wp-json\/wp\/v2\/posts\/11103","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/bitcoinmagazine.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/bitcoinmagazine.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/bitcoinmagazine.com\/wp-json\/wp\/v2\/users\/2572"}],"replies":[{"embeddable":true,"href":"https:\/\/bitcoinmagazine.com\/wp-json\/wp\/v2\/comments?post=11103"}],"version-history":[{"count":0,"href":"https:\/\/bitcoinmagazine.com\/wp-json\/wp\/v2\/posts\/11103\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/bitcoinmagazine.com\/wp-json\/wp\/v2\/media\/9599"}],"wp:attachment":[{"href":"https:\/\/bitcoinmagazine.com\/wp-json\/wp\/v2\/media?parent=11103"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/bitcoinmagazine.com\/wp-json\/wp\/v2\/categories?post=11103"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/bitcoinmagazine.com\/wp-json\/wp\/v2\/tags?post=11103"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}