Texas and Miami led this direction.

Then attempts emerged from lawmakers in Arizona to propose bills allowing for:

Acceptance of taxes in Bitcoin.

Creation of a "Bitcoin Reserve."

Recognition of Bitcoin as legal tender (but the U.S. Constitution prevents states from issuing official currency).

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3. Goals of creating a "Bitcoin Reserve":

Hedge against inflation: Bitcoin is considered "digital gold" because it has a limited supply (only 21 million units).

Diversify state reserves: Instead of relying solely on the dollar.

Attract investments: Supporting digital currencies may make the state more attractive to blockchain startups.

Prepare for a digital financial future: Where reliance on cryptocurrency assets is increasing.

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4. Criticisms and concerns:

The significant volatility of Bitcoin could put state funds at risk.

Legal feasibility: Can a U.S. state actually make monetary decisions of this nature?

Potential use in money laundering if there is no strict oversight.

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5. Latest updates (as of 2024):

No official law regarding "Bitcoin Reserve" has been passed in Arizona.

However, recurring bills are proposed every year to study the idea.

The tag remains active whenever the proposal is renewed or discussions occur among lawmakers.

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