Specifically mentioning bitcoin alone, the legal tender bill defines bitcoin as, “the decentralized, peer-to-peer digital currency in which a record of transactions is maintained on the Bitcoin blockchain and new units of currency are generated by the computational solution of mathematical problems and that operates independently of a central bank.”
The acceptance bill is more broad, saying that, “A state agency may enter into an agreement with a cryptocurrency issuer to provide a method to accept cryptocurrency as a payment method of fines, civil penalties or other penalties, rent, rates, taxes, fees, charges, revenue, financial obligations and special assessments to pay any amount due to that agency or this state.”
This is the second time that Sen. Rogers has introduced a bill aimed at making bitcoin legal tender in her state. She introduced the same amendment in January 2022, which died by the second reading.
Although it may appear there are slim chances of the bill passing this time, El Salvador’s adoption of bitcoin as legal tender has proven to be a boon for growth and investment in the country.
Recent actions in states like Texas, New Hampshire, Missouri and Mississippi all indicate increasing U.S. state interest in bitcoin and its benefits. As bitcoin adoption strengthens, the likelihood of such bills passing will only increase.
The new Relai Business over-the-counter service will allow businesses to purchase bitcoin quickly.
Regulated Swiss non-custodial Bitcoin app Relai has announced the launch of “Relai Business,” a new OTC service aimed at business clients.
According to the release sent to Bitcoin Magazine, Relai Business will allow small to medium-sized businesses to purchase bitcoin within one day.
The service is Relai’s second OTC solution, with the first, Relai Private, being aimed at high net worth individuals, allowing for transactions greater than 100.000 CHF / EUR.
“It’s a huge market that we are entering: There are 25M SMEs in Europe, and a growing number of them are led by bitcoiners,” commented Julian Liniger, CEO and co-founder at Relai.
“In the next ten years, millions of businesses will want to allocate billions into bitcoin, and we’re gonna make it super easy for them to do so!”
The Relai app recently received a complete overhaul including a simpler buy-flow and enhanced UX. The company also added support for VISA, Mastercard and Apple Pay, increasing the options for users to purchase bitcoin. According to the press release, “the Swiss company recently reported record numbers both in terms of active users and trading volume.”
Relai allows users to retain as much control over their money as possible. The app provides non-custodial wallets which lets users retain control over their own keys and therefore full sovereignty over their bitcoin.
However, it should be noted that the most secure way to store bitcoin is always in cold storage using a dedicated hardware device.