State Of Colorado Now Accepts Tax Payments In Crypto
In today’s episode of Steps Towards Mainstream Adoption, we have the state of Colorado:
U.S. State of Colorado Now Accepts Tax Payments in Crypto
Gov. Jared Polis of Colorado announced Monday that the U.S. state would begin accepting cryptocurrency for tax payments.
The state will allow individuals and businesses to use cryptocurrency for tax payments. It will use its own ledger of crypto transactions that have been converted to dollars that will be deposited into the state Treasury.
“We’re just showing again, from a customer service perspective, how Colorado is tech-forward in meeting the ever-changing needs of businesses and residents,” Polis stated in an official announcement at the Denver Startup Week.
Speaking with CNBC in Feb. this year, Polis said that the crypto payments would enlist a third party to process transactions. ”We are getting a payment provider to accept crypto equivalent and deposit the dollars into the state’s treasury for that amount. It is kind of like credit card payments, with the bonus that there are no returned payments!”