Colorado to start accepting state taxes in crypto this year: Report

Colorado, USA will soon start accepting state taxes in cryptocurrencies, the governor of Colorado Jared Polis said on CoinDesk TV Wednesday. Polis noted that the state is looking to allow payments in several kinds of cryptocurrencies for consumer convenience.

With plans to introduce the new payment form by the end of this summer, the state government is currently seeking companies that will handle the crypto transactions. In the same interview, the governor remarked:

“Our budget is still in dollars, our expenditures are still in dollars, and, of course, we don’t want to take the speculative risk of holding crypto, so we will be having a transactional layer there. It will be entering our systems as dollars.”

“We don’t want to take the speculative risk of holding crypto, so we will be having a transactional layer there,” said Polis.

Colorado is currently hosting the 2022 ETHDenver conference, an Ethereum-focused conference in Denver. The event discusses major themes and events related to the Ethereum network, such as Ethereum upgrades, layer 2 solutions, DeFi, NFTs, and more.

Meanwhile, several policies and efforts for accepting cryptocurrencies are currently underway in at least 20 states of the US. States, such as Arizona, Tennessee, Texas, Florida, and New Hampshire, are discussing means to hold Bitcoin, accept crypto payments and use the underlying technology Blockchain.

The post Colorado to start accepting state taxes in crypto this year: Report appeared first on Our Bitcoin News.