Colorado to accept tax payments in cryptocurrencies

By summer 2022, Colorado authorities will allow taxes and fees to be paid in cryptocurrencies. Governor Jared Polis announced this at the ETHDenver conference, The Block reports.

According to him, the reason for this decision is to increase user convenience and speed of payments. Polis stressed that the administration would not hold the digital assets but would convert them into US dollars immediately.

“For the convenience of citizens, we will accept taxes first, and then [add] many other fees and services by this summer,” the governor said.

During his remarks, he also stressed that Ethereum and blockchain are ‘the most important part of Colorado’s overall innovation ecosystem’.

Earlier such initiatives did not gain 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.

In May 2021, the authorities of Williston, North Dakota, allowed paying for utilities in Bitcoin.

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