Colorado to Accept Crypto for Taxes and Fees

According to The Block, Colorado authorities will allow paying taxes and fees in cryptocurrencies by the summer of 2022.

According to the governor of the state, Jared Polis, this decision was made to improve the comfort of users and increase the speed of payments. The policy emphasized that the state administration will not store digital assets, but will immediately convert them into US dollars.

The state authorities intend to introduce the possibility of paying for other services in cryptocurrencies in the future.

This is not the first time in the US they intend to introduce the possibility of paying taxes in cryptocurrencies. Prior to Colorado, similar initiatives were tried in Arizona, Illinois, and Ohio. The latter briefly introduced tax payments in Bitcoins, but was later canceled due to the low popularity of the service.

Jackson city, Tennessee, also introduced the possibility of paying taxes in cryptocurrencies.

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