Arizona May Allow Residents To Pay Taxes With Cryptocurrency
Though it is not exactly clear how the payments would be handled and what exchange method would be utilized, the law states that the Revenue Department would have 24 hours to convert any crypto payments into U.S. dollars.
Arizona State Rep. Jeff Weninger helped pushed through the legislation in effort to make Arizona a crypto friendly state. He also sponsored several related bills, including a law that would block local and county regulation of blockchain nodes. It shows that many areas of the United States are beginning to open themselves up to the technology. Seeing as both the SEC and CFTC have essentially given the green light before the U.S Congress when it comes to decentralized blockchain technology, this trend will likely pick up traction.
Source here
WOW.. the whole point of crypto is to take financial control away from govt. Organisations and financial institutions yet everyone is going to pay their debts with them? LOL full circle and back to square one... except govts/banks will have majority control of crypto market!
Ironic much? Like I have said the crypto "get rich market" has a lifespan of 2-3 years before it enslaves each and everyone one of us.
Very true. But with that in mind it is one's sole discretion to pay taxes in crypto. I personally wouldn't