Arizona Senate passes bill to allow tax payments in cryptocurrencies

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Ninja Squirrel
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https://cointelegraph.com/news/us-ar...nts-in-bitcoin

The Arizona Senate passed a bill on Feb. 8 to allow residents in the state to pay their taxes with cryptocurrencies, public records indicate.

The Senate Bill 1091, which intends to enable cryptocurrencies for tax payment, was introduced Jan. 10, 2018 and passed by the Senate Finance Committee by a 4-3 vote on Jan. 24. On Feb. 8, the Senate passed the bill by a 16-13 margin, with one no-vote.

The bill has now been sent to Arizona’s House of Representatives.

If the bill is adopted, Arizona would become the first state in the U.S. to accept cryptocurrency tax payments by the year of 2020, as stated on the public record. The bill would allow taxpayers of the state to use “a payment gateway, such as Bitcoin, Litecoin or any other cryptocurrency recognized by the department, using electronic peer-to-peer systems.”



Pretty big news, I wonder if the house of reps will approve it.
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shadowdweller
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Interesting news for sure, though I would be somewhat surprised if it were to be approved at this point in time.
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Ninja Squirrel
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(Original post by shadowdweller)
Interesting news for sure, though I would be somewhat surprised if it were to be approved at this point in time.
Yeah I'm not sure if the house of reps will pass it but it at least shows a willingness at the senate level. In fact recently during the CFTC meeting they were actually quite bullish on cryptocurrency which was pretty surprising.
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