Will Dogecoin become legal tender in California?
Will Dogecoin become legal tender in California?

Will Dogecoin become legal tender in California?

By Vincenzo Cacioppoli - 7 Jun 2022

Chevron down
Listen this article

Timothy Ursich, a chiropractor and sports medicine specialist, is running for election to the US Senate in the state of California. In a recent tweet, he proposed making Dogecoin a legal tender in his country. 

California: Dogecoin proposed as legal tender

A US Senate candidate for California, physician Timothy Ursich, announced in recent days that he would prepare a bill to make Dogecoin legal tender in the Sunshine State.

At the same time, he asked Dogecoin CEO Billy Markus and Tesla founder Elon Musk, a great supporter of the memecoin since its inception, to support his campaign.

In another tweet, the Senate candidate also stated that adopting the currency for California would be a useful tool to combat galloping inflation in the US.

On the other hand, California is one of the first US states to have adopted precise regulations that are quite favourable to cryptocurrencies, thanks to an executive order by the state’s governor, Gavin Newsom

The text of the document states:

“Create a transparent and consistent business environment for companies operating in blockchain, including crypto assets and related financial technologies, that harmonizes federal and California laws, balances the benefits and risks to consumers, and incorporates California values, such as equity, inclusivity, and environmental protection”.

Padilla and Ursich run for California Senate seat

Ursich’s race for the Senate seat must contend with the strength of current California Senator Alex Padilla, who was chosen by Governor Newsom to fill the seat vacated by US Vice President Kamala Harris. At the moment, Padilla seems to be clearly ahead in all the polls.

The chances of this measure actually being passed seem very slim, as do those of Ursich being elected. The Fed is absolutely opposed to any possibility of legalizing any kind of cryptocurrency.

Dogecoin was one of the fastest-growing currencies in 2021, having achieved an astounding +11,021%. Now, however, it has been languishing for months below the $0.09 mark, after having peaked at $0.7

Vincenzo Cacioppoli

Vincenzo was born in Genova but lived most of his life in Milan. He has a degree in political science. He is a journalist, blogger, writer, and marketing and digital advertising expert. After a long experience in traditional marketing, he started working with the web and digital advertising in 2011, creating a company called Le enfants. Passionate about the web and innovation, in 2018 he started exploring the topics related to blockchain technology and cryptocurrencies. Independent cryptocurrency trader since March 2018, he now collaborates with companies in the sector as a content marketing specialist. In his blog., he has long been primarily focused on blockchain, which he considers to be the greatest technological innovation after the Internet. His first book about blockchain and fintech is scheduled for release in November.

We use cookies to make sure you can have the best experience on our site. If you continue to use this site we will assume that you are happy with it.