Colorado has set the ball rolling as the first U.S. state to offer residents the option of paying taxes using cryptocurrencies.
“As of right now, the state of Colorado is officially accepting cryptocurrencies as a payment option for all taxes. We've been talking about this for a while, and we said we would deliver by the end of the summer — we have,” Polis said.
The Colorado Department of Revenue highlighted that payments would be remitted through personal PayPal accounts, which support Ethereum (ETH), Bitcoin (BTC), Litecoin (LTC), and Bitcoin Cash (BCH).
The governor pointed out that the state would collect the crypto payments and deposit the converted value in dollars into the state treasury. He added:
“Taxpayers can now select cryptocurrency as a payment option, just showing again from a customer-service perspective how Colorado is tech-forward in meeting the ever-changing needs of businesses and residents.”
To foster bold ideas in the state, Polis believes taking the crypto...
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