Several regulatory initiatives for the cryptocurrency market are being debated globally, with Brazil recently passing bills in the Chamber of Deputies and the Federal Senate.

In the United States, a bill must be introduced in the state of California in order for Bitcoin to be recognized as legal tender, just like the U.S. dollar. Developed by politicians Dennis Porter and Ian Calderon, the U.S. state could be the first in the country to legalize bitcoin.

Recently, Dennis Potter posted on Twitter about an initiative involving cryptocurrency assets. The proposed legislation was developed through bipartisan cooperation.

BREAKING: A bill has been introduced in California to make #Bitcoin a legal tender.

— Dennis Porter (@Dennis_Porter_), February 20, 2022

On Twitter, he compared the bill to the Super Bowl, saying the initiative could lead to revenue diversification in California. Dennis Porter also said he could not provide more information about the proposal.

“I can’t share all the details of the process that is about to take place for your success. I recognize that this is a long-term goal, but we need to stop looking only for incremental gains. Super Bowls aren’t just won by running. We need some depth shots.”

In addition to defending the bill that could turn bitcoin into a legal tender, politician Dennis Porter has released a petition asking for popular support for the proposal to be approved.

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