As the ongoing Securities and Exchange Commission (SEC) lawsuit against Ripple is beginning to back the XRP organization, other lawmakers across states are coming up with their own ways of integrating crypto amidst regulatory uncertainty.
California accepts Bitcoin
In a Senate bill, California state senator Sydney Kamlager presented his proposal to accept cryptocurrencies as a payment method.
Under the bill, this law would be limited only to payments for the provision of government services. It does not state whether private organizations and resellers are authorized to do the same.
Right now, the whole cryptocurrency discussion is a growing political issue, with more candidates pushing for their acceptance and some others refraining from knowing them.
As mentioned above, Colorado State Governor Jared Polis recently announced that the state would begin accepting cryptocurrencies as a tax payment later this summer.
He also clarified that the state will not store them, but will convert them into fiat, using an intermediary, as soon as it receives them.
Additionally, Aarika Rhoades, a candidate running to California to represent the state in the House of Representatives, has opened her campaign to cryptocurrency donations.
She has been exceptionally vocal in her support for cryptography and its adoption and is keeping to her word to spread awareness about the same.
Additionally, FXEmpire reported today on crypto mining opportunities in the state of Georgia and how the current state of regulations and tax savings could push more people towards cryptocurrency mining.
Instances as such act as catalysts for cryptocurrency adoption, and once the White House releases the anticipated cryptocurrency executive order, there could be much more clarity about what the future holds for digital assets in the world. United States.
Bitcoin and the rest of the market have not been in their best shape lately after the December and January crash. In fact, at the moment, Bitcoin is down 14,51% since the last crash that started seven days ago.
In such uncertain market conditions, the issue of adoption seems to take a step back in favor of protecting investor money for certain politicians. However, we remind you that even when the market is down, with cryptocurrency trading on Bitcoin system you can make a profit. What we remind you, however, is to always risk only money that you can afford to lose.