Forget your regular money and use Bitcoin or other crypto to pay taxes?
Cryptocurrency is becoming more and more common. Not only do large companies stock Bitcoin and/or Ethereum, entire countries are not afraid to embrace it. Think of El Salvador that sees Bitcoin as the official currency of the country. Another country that sees opportunities is the United States.
Bitcoin and tax
States can set their own rules in many areas. For example, the American state of Colorado is considering making it possible to pay taxes with Bitcoin. This is what Jared Polls, the governor of Colorado, announced in an interview with CNBC† The new law that makes this possible may go into effect this summer.
Paying your taxes with Bitcoin or other cryptocurrency in Colorado. But it doesn’t stop there. Polls wants to extend this to other municipal payments. Think of the payment you have to make to pick up a driver’s license or pay for a hunting license. Multiple states in America, such as Wyoming and New York, are embracing cryptocurrency in various ways. That is good news, because the global economy often looks at the United States and the developments that are happening there. When the Americans do something, often another continent or country follows later that has similar principles. Perhaps this will also happen with cryptocurrency.
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