Published On: Thu, Feb 8th, 2018

These US States Are Racing to Become the Country’s Crypto Capitol

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As Bitcoin becomes more and more viable, states like Tennessee and Arizona are racing to pass cryptocurrency-friendly legislation in an effort to become the blockchain capital of the country.
On the Books
Bitcoin’s quest for legitimacy is set to be aided significantly by the state of Tennessee, which looks to officially accept electronic cryptocurrency payments for financial transactions.

Though it is currently not illegal to conduct business transactions with Bitcoin in The Volunteer State, Democrat Rep. Jason Powell would like to lead the charge in officially recognizing payments with digital currencies as legal. In a presentation on blockchain technology from Jan. 24th, Powell explained:
We are not just competing with other states in the technology and the space, we’re competing with the world. In making sure that Tennessee has meaningful blockchain legislation, it is really important to say that Tennessee is supportive of this technology and we want to be a leader in this innovation.
According to The Tennessean, the crypto-friendly bill aims not only to legitimize cryptocurrencies and smart contracts for electronic transactions but also “protect ownership rights of information secured by the same methods.”
Arizona to Accept Bitcoin Payments for Taxes
Tennessee …

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