Political advisors in California are working on a new bill that aims to make Bitcoin a legal tender in the state. Former Majority Leader of the California State Assembly who is now a Political advisor Ian C. Calderon tweeted that he is working in collaboration with Bitcoin expert Dennis Porter to draft the new proposal.
The news comes close on the heels of previously reported Arizona and the Island of Tonga expressing similar intentions to legalize the king coin. Looks like the California bill is set to disrupt the legal tender race once again.
The U.S state recently hit the headlines when at a Congressional hearing politician Brad Sherman compared crypto to sub-prime mortgages and asked a Treasury Department official if “those of color will be left holding the bag if we see a collapse in cryptocurrency or stablecoins?”
His comments invited a barrage of tweets including Ryan Selkis of Messari who accused Sherman of making it a racial issue while refusing to debate his pro-crypto primary challenger Aarika Rhodes, who happens to be Black.
Aarika Rhodes, the U.S. congressional candidate for California’s 32nd District is looking to unseat Congressman Brad Sherman [D-Calif.], who termed bitcoin as “a way for economic justice.” “Do I love the Lightning Network? Absolutely, I think it is the future,” Rhodes said.
What’s next for California ?
Last year, according to industry research from the review site Crypto Head, California was ranked the top position emerging as the most crypto-ready jurisdiction in the United States thanks to the mushrooming of cryptocurrency ATMs and the growing interest in digital assets among the state’s citizens.
Scoring 5.72 out of 10, California surpassed New Jersey [5.44], Texas [5.28], Florida [5.03], and New York [4.29] in the crypto-ready index. To top that, the state’s point total was 2.54 points higher than the national average.
California is considered a tech powerhouse, with a bustling economy, a center of innovation and education. Apart from that, the western U.S state enjoys a worldwide reputation of being the pinnacle for life quality and prosperity by leaders and nations around the world.
With respect to BTC adoption in the state, crypto advocates believe that it would most likely catapult straight into hyperbitcoinization.