Lawmakers consider authorizing study on whether state should accept Bitcoin payments

A bill that would bring Utah a step closer to accepting bitcoin as payment has passed its first hurdle.

The proposal from Rep. Marc Roberts, a Santaquin Republican, would authorize a study on the feasibility of accepting the digital currency.

Roberts says demand for and awareness of bitcoin is increasing. The currency is not tied to a bank or government and users can spend the money anonymously.

The state could immediately convert the bitcoin transaction to dollars, says Roberts. The fees associated with such transactions are less than those charged by credit card companies, he said.

The bill would use an informal working group to study the issue, which would not cost any money, said Roberts.

The proposal now heads to the House floor for consideration.

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Online:

HB 214: http://1.usa.gov/1FpdtnX