Colorado to Accept Crypto for Tax Payments by End of Summer
Gov. Jared Polis outlined the plans during an appearance on CoinDesk TV.
Feb 16, 2022 at 3:43 p.m. UTCUpdated Mar 17, 2023 at 8:01 p.m. UTC
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Colorado will start accepting cryptocurrencies for tax and other payments to the state by the end of the summer, Gov. Jared Polis said during a CoinDesk TV appearance on Wednesday. The state is currently hosting the 2022 ETHDenver conference.
- “For consumer convenience, we want to accept payment in a wide variety of cryptocurrencies, just as we do in credit cards,” said Polis.
- The governor said Colorado is currently looking for companies to handle the actual crypto transactions.
- “We don’t want to take the speculative risk of holding crypto, so we will be having a transactional layer there,” said Polis.
- Polis first outlined his hope to accept crypto for taxes at Consensus 2021, adding to his long history of being pro-crypto. As a Colorado congressman in 2014, Polis was one of the first U.S. politicians to accept campaign donations in bitcoin.
- Colorado wouldn’t be the first state to accept taxes via digital assets, but pilot programs in Ohio and Seminole County, Florida, were ultimately unsuccessful and scrapped.
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Brandy covered crypto-related venture capital deals for CoinDesk.