New California Legislation for Bitcoin and Cryptocurrency

Podcaster Dennis Porter announced on February 19th, 2022 that California “has introduced a bill to make #Bitcoin legal tender.”

The announcement was reiterated by Former Majority Leader of the California State Assembly Ian C. Calderon. Calderon states that he and Porter are working on a bi-partisan bill that will explore the possibility of making Bitcoin legal tender in the state. 

When met with questions on the current status of the bill, Calderon stated that the bill was introduced in “spot form” or as a placeholder to later decide what the language will be for its final form.

Current Legislation

The announcement was also met with requests to clarify what is stated within the bill. Candidate for Congress CA-32 Aarika Rhodes, who accepts Bitcoin and cryptocurrency donations, responded to Porter’s original announcement by linking Senate Bill number 1275. She said that if Bill 1275 is the bill that Porter and Calderon are referring to, there is no mention of making Bitcoin a legal tender for the state. No confirmation from Porter or Calderon has been made at the time of this writing.

Bill 1275 was introduced by Senator Sydney Kamlager in an effort to “authorize a state agency to accept cryptocurrency as a method of payment for the provision of government services.” Kamlager represents the 30th Senate District of California and introduced the bill on February 18th, a day before Porter’s announcement.

Like other government officials, Kamlager sees the potential economic boom that Bitcoin and other cryptocurrencies may provide for her community. By first allowing virtual payments to be made within her district, other incentives may be added for citizens to use Bitcoin and cryptocurrencies as payment for services and products.

California joins a growing list of states working on Bitcoin and cryptocurrency legislation to garner support from residents.