Colorado Governor Floats Idea of Accepting Cryptocurrency for Taxes

Colorado Embraces Cryptocurrency

Governor Jared Polis of Colorado recently announced his desire for the state to become the first to accept cryptocurrency as payment for taxes.

Polis's Vision for Colorado

Governor Polis expressed his enthusiasm for the possibility during a virtual summit called ETHDenver 2022. He stated, "I'd be thrilled to be the first state to let you pay your taxes with crypto."

The Governor believes that accepting cryptocurrency for taxes would provide Colorado residents with additional financial flexibility and demonstrate the state's embrace of innovation.

Implementation Timeline

According to Polis, the state aims to have the necessary infrastructure in place to accept cryptocurrency payments by mid-2022.

Colorado is one of several states exploring the possibility of accepting cryptocurrency for government payments. However, it is currently unclear which specific cryptocurrencies the state would accept.