Governor of Colorado Announces that the State Will Take Crypto for Tax Payments

Governor of Colorado Announces that the State Will Take Crypto for Tax Payments

The western US state will allow citizens to pay their taxes with digital assets, according to governor Jared Polis.

The United States has been slowly but steadily integrating cryptocurrencies, with several political figures chiming in with their own insight on how to adapt blockchain technologies into the country’s financial system.

Based on a Twitter post by Jared Polis, who is the Governor of Colorado, he confirmed that the state will be getting a crypto payment provider that will act as an exchange in order to convert cryptocurrencies into dollars.

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The governor has previously attended cryptocurrency conventions like ETHDenver where he publicly supported blockchain technologies and praised the possibility to make finance decentralized. Also, he mentioned plans to implement blockchain technologies throughout the state, making Colorado one of few crypto hubs.

Even more so, the service to accept digital assets to pay for tax, according to the governor’s interview with CNBC, will be the first out of many. Polis mentioned that he will look to expand the program so people will be able to acquire various licenses by paying in cryptocurrencies.

Conor Cahill, who is the Press Secretary, spoke to the Guardian and supported the governor’s decision, stating: 

"Governor Polis is proud to lead efforts to create a strong and dynamic crypto ecosystem that puts Colorado at the forefront of digital innovation."

Likewise, Cahill said that the Government of Colorado has hired a "chief blockchain architect" which will assist the state in implementing a solid finance solution to pay for taxes in crypto.

While Colorado is probably the first US state to accept crypto for tax payments, governments of other cities and states in the country have expressed their support for blockchain technology adoption as well.

The Mayor of Miami Francis Suarez has been the most notable political figure in the US, hoping to make the city a global crypto hub, while the Mayor of NYC took his first paycheck in digital assets.

Last month, the Northwest Arkansas Council announced its incentive called LifeWorksHere which would pay blockchain and fintech specialists $10K in Bitcoin to move into the state, and work remotely.

Dom Z. - Crypto Analyst

by Dom Z. - Crypto Analyst, BitDegree


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