In California, a draft law has been developed, where Bitcoin is recognized as an official means of payment.
Perhaps the state of California will soon recognize BTC as a legal tender after El Salvador. Currently, an expert working group is developing a draft law, according to which Bitcoin can be recognized as a legal means of payment. If you are interested in learning more about crypto – visit bitcoin360
One of the drafters of the bill, Ian Calderon, said that work is underway to get the state legislature to consider a bill that recognizes Bitcoin as a payment unit.
Such an initiative can seriously improve the position of cryptocurrency. Considering that there is currently a downturn in the California economy due to a sharp increase in the prices of all services and goods, many companies are thinking of looking for new locations.
In the capital of the state, the authorities are trying to cope with growing social problems, so they will not be hindered by additional funds to the local budget. In addition, if California does recognize Bitcoin as a legal tender, it could mean that other states will begin to consider such initiatives.
And so far the draft law has not been submitted for consideration, but the fact that it has already been prepared is a good signal for the entire crypto industry in the USA. While federal authorities in Washington ponder how to conduct financial policy regarding cryptocurrencies, local efforts are already trying to stay ahead of the curve. If the initiative receives bipartisan support in California, we should expect an influx of not only new investments into the state’s economy but also an increase in the number of companies and digital nomads working with cryptocurrencies.
We will remind you that El Salvador became the first country to accept Bitcoin as an official means of payment. Despite fierce criticism, the authorities have not given up on Bitcoin and continue to develop the infrastructure for its further adoption.
California will soon follow his example. And unlike El Salvador, where very few residents are familiar with virtual currencies, California has everything in place to quickly incorporate Bitcoin into its financial and public infrastructure.
It remains to wait for the consideration of the draft law by the state authorities and the final vote.