Tech News, Magazine & Review WordPress Theme 2017
  • FEATURES
    • News
    • Bitcoin
    • Ethereum
    • Ripple and XRP
    • Altcoins
    • Trading
    • NFTs
    • Blockchain
    • Futuremash
    • Regulators
    • Scams
    • Crypto 101
  • HODLX
    • Latest Stories
    • FAQ
    • Submit Your Guest Blog
  • INDUSTRY ANNOUNCEMENTS
    • Latest
    • Press Releases
    • ChainWire
    • Sponsored Posts
    • Submit Your Content
  • CRYPTO MARKETS
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Binance Coin (BNB)
  • BEGINNERS
    • What Is Bitcoin?
    • What Is Blockchain?
    • What Does Hodl Mean?
    • How to Pay Your Bills with Bitcoin
    • Best Bitcoin FAQs
    • Example of Bitcoin’s Purpose
    • Cryptocurrency Has Multiple Meanings
    • Authenticator Alert – Securing Your Crypto
  • SUBMIT
    • Guest Blog
    • Press release
    • Sponsored post
  • Email Alerts
  • DAILY HODL MIX
No Result
View All Result
  • FEATURES
    • News
    • Bitcoin
    • Ethereum
    • Ripple and XRP
    • Altcoins
    • Trading
    • NFTs
    • Blockchain
    • Futuremash
    • Regulators
    • Scams
    • Crypto 101
  • HODLX
    • Latest Stories
    • FAQ
    • Submit Your Guest Blog
  • INDUSTRY ANNOUNCEMENTS
    • Latest
    • Press Releases
    • ChainWire
    • Sponsored Posts
    • Submit Your Content
  • CRYPTO MARKETS
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Binance Coin (BNB)
  • BEGINNERS
    • What Is Bitcoin?
    • What Is Blockchain?
    • What Does Hodl Mean?
    • How to Pay Your Bills with Bitcoin
    • Best Bitcoin FAQs
    • Example of Bitcoin’s Purpose
    • Cryptocurrency Has Multiple Meanings
    • Authenticator Alert – Securing Your Crypto
  • SUBMIT
    • Guest Blog
    • Press release
    • Sponsored post
  • Email Alerts
  • DAILY HODL MIX
No Result
View All Result
The Daily Hodl
No Result
View All Result

Colorado To Become First State To Accept Bitcoin (BTC) for Tax Payments

by Daily Hodl Staff
February 16, 2022
in Futuremash

Colorado will become the first US state to accept crypto assets for payment of taxes, according to its governor.

In a new interview with CNBC, Governor Polis says that citizens of the Centennial State will be able to use digital assets to pay for state taxes sometime in mid-2022.

Polis also says the state has plans to accept crypto payments for other government-related fees as well.

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

Though the state will accept cryptocurrencies for payments, it does not currently plan to hold any as they are too volatile, according to Polis. Any crypto received by the state as payment would be converted to USD in real-time.

“We cannot be in the business of having exposure to a market where securities, including cryptocurrencies, fluctuate.

Our expenses are in dollars still. You never know what the future brings, but all of our expenses are in dollars, our budget got approved by the legislature in dollars, so when we talk about accepting crypto for payments, they would be converted back into dollars for our purposes.”

Polis, who first pitched the idea that Colorado residents should be able to pay their taxes in crypto last year, says that some cities within the state may follow in the footsteps of Miami and New York and create their very own CityCoin.

“We have this great state senator, senator Chris Hanson, who’s pursuing a digital token bill that would effectively allow state-created digital tokens to be utilized for state reserve purposes.”

O
Check Price Action

Don't Miss a Beat – Subscribe to get crypto email alerts delivered directly to your inbox

Follow us on Twitter, Facebook and Telegram

Surf The Daily Hodl Mix

 
Check Latest News Headlines


 
Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
Featured Image: Shutterstock/BOGORA/Sensvector
Submit a Press Release

Industry Announcements

  • SRG Studios Is Launching Their NFT Collection – The Cosmic Coffee Cups
    May 16, 2022
  • Anonymous Turns to CultDAO for Support Against Unjust Government Actions
    May 12, 2022
  • Bnext Receives Additional $4.5 Million Investment, Led by Borderless Capital To Drive DeFi on Algorand
    May 12, 2022
  • Lina Valentina’s ‘No More’ NFT Collection Denounces Domestic Violence
    May 11, 2022
  • Cake DeFi Enters Into Esports With Competitive Gaming Platform FACEIT
    May 10, 2022
  • Introducing YUSE, the Ultimate Multi-Utility Token
    May 10, 2022
  • HUMAN Protocol Foundation Awards Grant to VeritaTrust To Build On-Chain Rewards for Reviews
    May 10, 2022
Submit a Guest Post
ADVERTISEMENT
Bitcoin
$30,461.00
$30,461.00
3.21%
Ethereum
$2,079.03
$2,079.03
3.66%
BNB
$306.39
$306.39
4.75%
Cardano
$0.580238
$0.580238
3.69%
XRP
$0.433267
$0.433267
4.65%
Dogecoin
$0.090386
$0.090386
2.99%

Spotlight

  • Trader Who Accurately Called Bitcoin Collapse Below $30,000 Unveils Target Price for BTC Amid Crypto Free Fall
    May 12, 2022
  • Here’s How Ethereum Rival Algorand (ALGO) Can Definitively Break All-Time Highs, According to Coin Bureau
    May 15, 2022
  • Analyst Issues Solana and Avalanche Warnings, Says Traders Should Not Underestimate Altcoin Bear Market
    May 10, 2022
  • Coinbase CEO Brian Armstrong Predicts Crypto Economy Will Explode to 15% of Global GDP – Here’s His Timeline
    May 13, 2022

Cryptocurrency news and analysis, covering Bitcoin, Ethereum, Ripple, XRP, altcoins and blockchain technology

Categories

Bitcoin • Ethereum • Trading •
Ripple and XRP • Altcoins •
Blockchain • Regulators •
Scams • Crypto101 • HodlX •
Futuremash •
Industry Announcements

ABOUT US | EDITORIAL POLICY | PRIVACY POLICY
TERMS AND CONDITIONS | CONTACT

JOIN US ON TELEGRAM

JOIN US ON TWITTER

JOIN US ON FACEBOOK

COPYRIGHT © 2017-2022 THE DAILY HODL

No Result
View All Result
  • FEATURES
    • News
    • Bitcoin
    • Ethereum
    • Ripple and XRP
    • Altcoins
    • Trading
    • NFTs
    • Blockchain
    • Futuremash
    • Regulators
    • Scams
    • Crypto 101
  • HODLX
    • Latest Stories
    • FAQ
    • Submit Your Guest Blog
  • INDUSTRY ANNOUNCEMENTS
    • Latest
    • Press Releases
    • ChainWire
    • Sponsored Posts
    • Submit Your Content
  • CRYPTO MARKETS
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Binance Coin (BNB)
  • BEGINNERS
    • What Is Bitcoin?
    • What Is Blockchain?
    • What Does Hodl Mean?
    • How to Pay Your Bills with Bitcoin
    • Best Bitcoin FAQs
    • Example of Bitcoin’s Purpose
    • Cryptocurrency Has Multiple Meanings
    • Authenticator Alert – Securing Your Crypto
  • SUBMIT
    • Guest Blog
    • Press release
    • Sponsored post
  • Email Alerts
  • DAILY HODL MIX

© 2022 The Daily Hodl