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Colorado to Accept Crypto for Tax Payments by End of Summer
Gov. Jared Polis outlined the plans during an appearance on CoinDesk TV.
Colorado will start accepting cryptocurrencies for tax and other payments to the state by the end of the summer, Gov. Jared Polis said during a CoinDesk TV appearance on Wednesday. The state is currently hosting the 2022 ETHDenver conference.
STORY CONTINUES BELOW
- “For consumer convenience, we want to accept payment in a wide variety of cryptocurrencies, just as we do in credit cards,” said Polis.
- The governor said Colorado is currently looking for companies to handle the actual crypto transactions.
- “We don’t want to take the speculative risk of holding crypto, so we will be having a transactional layer there,” said Polis.
- Polis first outlined his hope to accept crypto for taxes at Consensus 2021, adding to his long history of being pro-crypto. As a Colorado congressman in 2014, Polis was one of the first U.S. politicians to accept campaign donations in bitcoin.
- Colorado wouldn’t be the first state to accept taxes via digital assets, but pilot programs in Ohio and Seminole County, Florida, were ultimately unsuccessful and scrapped.
Brandy Betz
Brandy covered crypto-related venture capital deals for CoinDesk. She previously served as the Technology News Editor at Seeking Alpha and covered healthcare stocks for The Motley Fool. She doesn't currently own any substantial amount of crypto.
