• Arizona state Sen. Wendy Rogers has proposed legislation that would make bitcoin legal currency in Arizona and allow state agencies to accept it.
• The proposed law, designated SB 1341, would make Arizona the first state in the United States to recognize bitcoin as a legal form of currency.
• If passed, the law would permit the payment of debts, taxes, and other financial responsibilities in Arizona with bitcoin.
The cryptocurrency craze has taken the world by storm, and now the state of Arizona is looking to make bitcoin a legal form of currency. On Wednesday, Arizona Republican Senator Wendy Rogers presented a bill, designated SB 1341, that would make Arizona the first state in the United States to recognize bitcoin as a legal form of currency. The bill has sparked a heated exchange of opinions, and if passed, the law would permit the payment of debts, taxes, and other financial responsibilities in Arizona with bitcoin.
This proposed law comes at a time when the cryptocurrency market has seen a huge decline of 60% from its all-time high. Despite this, many still have faith in the cryptocurrency’s future, and Senator Rogers is one of them. The bill is also co-sponsored by Rogers’ Republican colleagues in the state senate, J.D. Mesnard and Jeff Weninger. If passed, the law would mean that all transactions currently conducted in U.S. dollars (USD) might possibly be carried out in BTC, and people and establishments would be free to use the cryptocurrency as they see right.
The bill has been widely anticipated, and it still has yet to be established when the discussion will be held in an official capacity. However, this proposed law could have a huge impact on the state of Arizona. It could be a major step forward in the world of cryptocurrency and could potentially lead to other states adopting similar legislation. Furthermore, it could also open up the state to a new wave of investment and innovation.
Only time will tell if this proposed law will be passed, but for now, it is an exciting prospect for the state of Arizona. If it does pass, then it could be a major milestone in the world of cryptocurrency and could lead to a new era of financial freedom and flexibility in the state.
• Dogecoin and Shiba Inu continue to lead the meme coin rally
• Both coins have seen double digit gains in the last 24 hours
• Gains are attributed to Twitter adding both coins to its $Cashtags feature
Dogecoin and Shiba Inu have once again taken the lead in the meme coin rally, with both assets seeing double-digit gains in the last 24 hours. This impressive performance is largely attributed to Twitter adding both coins to its $Cashtags feature. This has allowed users on the platform to easily search for the prices of the two coins, which has helped to drive up their respective prices.
Dogecoin has seen a 2.23% rise in the last 24 hours, with 12% gains over the past week. Meanwhile, Shiba Inu has seen an even more impressive 15% rise in the same time period, with an increase of 34% in the past week. This surge in the value of the asset is largely due to the anticipation surrounding the launch of Shibarium, a Layer 2 blockchain.
The addition of Dogecoin and Shiba Inu to Twitter’s $Cashtags feature has been a major factor in the surge in the value of both coins. The feature allows Twitter users to easily search for the prices of both coins and this has helped to drive up interest in the two coins. The ease of access to information regarding the two coins has been a major factor in their value increases.
The meme coin sector has seen a significant revival over the last week, with all of the altcoins following suit. Despite the market cooling off in the last 24 hours, the meme coins have continued to defy the trend and have seen strong gains. This shows that they remain a powerful force in the sector, and could continue to see strong growth in the near future.
• Crypto lending firm Vauld struggled during the crypto winter of 2022 resulting in it filing for bankruptcy.
• Vauld was granted a three-month creditor protection period by the Singapore court, but the court has now extended this period until February 28th, 2023.
• The extension was requested by Vauld in order to complete negotiations with two digital asset fund managers interested in acquiring its assets.
The crypto space has seen its fair share of ups and downs over the last few years. In 2022, the crypto winter took hold and many companies were left scrambling to make ends meet. Vauld, a crypto lending firm, experienced a particularly difficult time during this period leading to it filing for bankruptcy.
In an effort to help the company, the Singapore court granted Vauld a three-month creditor protection period. This period was designed to give the firm time to explore its options and possibly find a way to continue operating. Unfortunately, the situation did not improve and Vauld requested an extension to the period.
The court has now granted Vauld an extended period of creditor protection until February 28th, 2023. The extra time has been requested by the company in order to allow them to complete negotiations with two digital asset fund managers interested in taking over the remaining Vauld assets. The negotiations have reportedly reached an advanced stage and will require more time to conclude.
Vauld has now been given a much needed lifeline to continue its discussions with the digital asset fund managers and potentially find a way to continue operating. Although the future of the company remains uncertain, the extended period of creditor protection could be the lifeline it needs in order to get back on its feet.