In The News: The First US State, Colorado, Now Accepting Crypto as Tax Payments
Updated: Nov 1, 2022
Colorado is officially the first US state to accept crypto for tax payments, pushing these digital currencies further into the mainstream. With this latest update, Governor Jared Polis says that Colorado’s looking to help push the state further into the digital sphere.
Polis remarks that “as of right now, the state of Colorado is officially accepting cryptocurrencies as a payment option for all taxes. We've been talking about this for a while, and we said we would deliver by the end of the summer — we have.”
Currently, the crypto tax payments would be made through all PayPal account, which supports Ethereum (ETH), Bitcoin (BTC), Litecoin (LTC), and Bitcoin Cash (BCH), based on the Colorado Department of Revenue’s latest announcement.
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