Colorado To Accept Cryptocurrency As Tax Payment, Will Become First US State To Do So

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Colorado To Accept Cryptocurrency As Tax Payment, Will Become First US State To Do So

 

Colorado will become the first state in the United States to accept cryptocurrencies for state tax and fee payments

 

Colorado will become the first state in the United States to accept cryptocurrencies for state tax and fee payments. Residents of the state will be able to pay their income taxes in Bitcoin and Ethereum starting from as early as June. Governor Jared Polis made the announcement a few days ago. To minimise difficulties with volatility associated with cryptocurrencies, the state will accept payments in the digital assets and then convert them into equivalent dollar amounts in real-time before depositing them into the state's treasury. “It is kind of like credit card payments, with the bonus that there are no returned payments,” tweeted the governor.

 

 

https://www.ndtv.com/business/colorado-to-accept-cryptocurrency-as-tax-payment-will-become-first-us-state-to-do-so-2792640/amp/1