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Arizona Residents to Pay Taxes with Bitcoin

The number of people who invest money in Cryptocurrencies is getting bigger by the day. The biggest influx of new traders took place in 2017 and seeing how the entire cryptocurrency market boomed, we can be sure that even more traders are going to join the scene. However, there is some recent good news that will get an entire US state’s attention.

Cryptocurrency Usability

The only downside of investing in cryptocurrencies is that people are not able to spend them like FIAT. Although, there are already many companies and services which accept payment in form of cryptocurrencies.

For example, people can pay for their furniture, music, flights and even food orders from certain shops.

Arizona May Allow People to Pay Taxes with Bitcoin

The latest news regarding cryptocurrencies is related to Arizona. This state is considering allowing residents to pay their taxes with Bitcoin. Right now, Arizona has numerous bills that are designed towards revolutionizing the way governments perceive cryptocurrencies.

One of those bills wants to make Bitcoin and other cryptocurrencies be seen as real currencies, and not just commodities. This is what Jeff Weninger who is the Arizona State Representative had to say about this bill:

“It’s one of a litany of bills that we’re running that is sending a signal to everyone in the United States, and possibly throughout the world, that Arizona is going to be the place to be for block chain and digital currency technology in the future.”

Eases of Use

We should mention that Jeff Weninger said that he is co-sponsoring the bill and that it already passed the Senate Finance Committee after being voted 4 to 3. The Arizona State Representative also made the following interesting statement about this cryptocurrency bill:

“The ease of use, being able to do it in the middle of the night, being able to do it at home wile you’re watching TV. I think in a few years this isn’t going to even be a question.”

The post Arizona Residents to Pay Taxes with Bitcoin appeared first on News4C.

This post first appeared on News4c, please read the originial post: here

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Arizona Residents to Pay Taxes with Bitcoin


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