Raquel Terán

Support collaborative approaches to studying blockchain and crypto innovation, which have the potential to provide more equitable access to capital. We must work towards establishing industry guidelines that support an equitable American economy for all by creating a modern regulatory framework that provides clarity and transparency, allows access to these technologies for all Americans so that their full potential can be harnessed, encourages innovation and equitable growth while ensuring strong protections for consumers and workers and enables the transfer of money across borders without exorbitant fees

Senator Raquel Terán in the Arizona Senate voted against SB1239 - which would allow state agencies in Arizona to enter into agreements with cryptocurrency service providers to accept cryptocurrency as a method of payment for various obligations due to the state, including fines, taxes, fees, and other assessments. The bill outlines the terms and conditions for such agreements, including the handling of service fees and the liability of the payer until the state receives full payment. It also defines "cryptocurrency" and "cryptocurrency service provider" for the purposes of these transactions. The bill amends current law by adding the option for the Arizona Department of Revenue (ADOR) to accept cryptocurrency for tax payments, in addition to the existing methods such as bank drafts, checks, and electronic funds transfers. It also redefines the term "cryptocurrency issuer" to "cryptocurrency service provider" and specifies that such a provider must have experience converting cryptocurrency to legal tender.

Senator Raquel Terán in the Arizona Senate voted against SB1191 which amends Arizona Revised Statutes related to escrow agents, specifically regarding the permissible forms of deposit into an escrow account. The bill introduces the option for escrow agents to accept deposits via distributed ledger technology transfers within a secure network of federally insured depository institutions. These transfers must be recorded on a ledger and securely deposited in the escrow agent's depository account. The depository institution must settle these transfers using an established national clearing house network, but the transfers cannot be settled or backed by a central bank digital currency. The transfers must be fully settled, irrevocably credited, and transferred in U.S. dollars. Additionally, the value of the transferred digital asset must be backed by U.S. dollars and redeemable on a one-to-one basis. The definition of "distributed ledger technology" is also provided, emphasizing that the ledger must be tamper-resistant and protected with cryptography.