Colorado governor announces residents can use cryptocurrency to pay state taxes

Colorado governor announces residents can use cryptocurrency to pay state taxes.

Colorado Governor Jared Polis spoke at the opening ceremony of Denver Startup Week on Monday.

During the period, he said he fulfilled a promise earlier this year to allow residents to use cryptocurrencies to pay the state’s taxes.

As part of a broader push to promote blockchain technology in the state, whether personal/corporate income taxes, sales/use taxes, withholding/severance, or excise taxes are eligible to be paid in cryptocurrencies, the governor’s office said .

Embarrassingly, this news comes at a time when the cryptocurrency market is experiencing a cold winter.

Axios Crypto pointed out that the price of the largest BTC currency has recently hit a three-year low. At the weekend, BTC was at $18,349 — well below the 2017 high of $19,783.

At the same time, ETH, the second coin in the currency circle, which has just experienced the PoS merger, has also suffered the same cold weather as BNB, XRP, Cardano and other encrypted tokens.

Even so, Jared Polls is accepting cryptocurrency-based campaign donations and selling non-fungible tokens (NFTs) at $52.80 each to raise campaign funds (175 sold so far this June).