The growing popularity of cryptocurrency has led to many legislatures around the world looking for ways to regulate it. Some have banned crypto while others embrace the technology.

American mayors are now able to accept crypto as their pay. Arizona’s Governor Jared Polis has proposed that Wyoming adopt crypto taxation.

Colorado to Begin Accepting Taxes in Crypto

In a confirmation of Colorado’s long-held ambition, Governor Jared Polis announced that Coloradoans will soon have the ability to pay state taxes using cryptocurrency.

He explained that the governor is implementing the plan for consumer convenience. The governor also said that the state would accept payments in various cryptocurrencies like we do with credit cards.

CryptoWorld featured the Governor explaining;

“We expect by this summer to accept crypto for all of our state tax-related purposes. And then we plan to roll that out across all state government for things — could be as simple as a driver’s license or hunting license.”

The Governor stated that crypto can be accepted in Colorado to tax. He also said that Colorado is looking for crypto-transactions processing companies.

Flipside

• Although the governor stated that the state would accept crypto, he explained that Colorado does not want to take any speculative risks by holding cryptocurrency. It will instead operate using a transactional layer.

What You Need to Care About

Colorado, one of over 20 states in the United States that are considering legislation to allow crypto-related transactions, is a sign of growing adoption.

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