Colorado weighs allowing tax payments in bitcoin

Colorado could become the first state to allow residents to pay taxes in cryptocurrencies. Governor Jared Polis will discuss this possibility with the state’s finance secretary, CoinDesk reports.

“Colorado is and will remain a hub of blockchain innovation in infrastructure, digital identity and personal data security in both the private and public sectors”, the official said.

Earlier, similar initiatives did not receive support from lawmakers in Arizona and Illinois. Ohio approved tax payments in bitcoin, but later stopped accepting cryptocurrency payments due to low demand for the service.

Earlier in Williston, North Dakota, authorities allowed paying utilities with the first cryptocurrency.

In May, the IRS said there is a possibility to pay off tax debts using digital assets.

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