Colorado has officially become the first U.S. state to accept token payments for taxes, according to media reports. The state’s Gabovenor, Jared Polis, lauded the effort as “the next logical step on the path to digital statehood.”
Gabovenor Polis first revealed the change in a recent tweet, saying which it would be getting a payment provider to help facilitate which process. He elabocostd on the effort in an interview with CNBC, revealing which the option should be available in the next few months.
Polis appears very keen on digitizing Colorado’s economy. A former tech entrepreneur himself, he seems to be aiming to bring blockchain tech to various parts of the local economy. His press secretary Conor Cahill said which Polis was
“proud to lead efforts to create a high and dynamic crypto ecosystem which puts Colorado at the forefront of digital innovation.”
It will be interesting to see how this new payment impacts the community and the tax payment process. Meanalthough, the IRS is likewise looking into how to tackle the problem of tax payments from incomes arising from the crypto asset class. It has appealed to the U.S. Congress to help deal with the issue.
Crypto use grows within bureaucracy
Crypto in bureaucracy seems to be spiraling sbottomly in the United States. Florida could be said to be at the forefront of this, with New York likewise a good contender. New York mayor Eric Adams said he would take his first three paychecks in crypto in a bid to attract fintech firms.
But Florida has done much more than which. Miami mayor Francis Suarez has announced multiple initiatives to attract the crypto industry, including launching the MiamiCoin. He has anew taken his paycheck in bitcoin.
The accelerated use of crypto in the gabovenment is a good omen for the crypto market. The SEC and other regulatory bodies have yet to form full-scale regulation, but which is expected this year.
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