Colorado will allow tax payments in cryptocurrency

By the summer of 2022, the state residents will be able to use BTC and ETH to pay their bills

18.02.2022 - 11:45

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1 min

What’s new? During an appearance on CoinDesk TV, Colorado Governor Jared Polis announced that the government will begin accepting cryptocurrencies to pay taxes by the summer of 2022. Colorado residents will be able to use BTC and ETH to do so. At the moment, the state government is looking for companies that will handle cryptocurrency transactions.

CoinDesk’s material

What else did Polis add? The Governor clarified that using bitcoin and ether does not mean their legalization. Polis added:

“For consumer convenience, we want to accept payment in a wide variety of cryptocurrencies, just as we do with credit cards. We don’t want to take the speculative risk of holding crypto, so we will be having a transactional layer there.”

Which states support such an initiative? Jared Polis is not the first to allow residents to pay taxes and duties with cryptocurrency. Florida Governor Ron DeSantis has long been working on a program that will make it easier for the state residents to pay their bills. Miami residents have already voted to create the MiamiCoin token (MIA).

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