Arizona on the point of accepting the payment of taxes in crypto-currency

Arizona wants to take part in the adventure of the crypto-currency, becoming the first u.s. State to offer its citizens the opportunity to pay your taxes in Bitcoin. A draft law was adopted Thursday by the Senate of Arizona.

A draft law ambitious

The bill SB1091 plans to allow taxpayers residing in Arizona to be able to pay their taxes on crypto-currencies. This text was submitted on 10 January last. And then it was adopted by the committee on finance of the Senate of Arizona two weeks later. On 8 February, the State Senate has finally passed the bill. It has now been sent to the House of representatives of Arizona who will have the last word. If mps vote in favour of this law, then Arizona will become the first u.s. State to accept payment of taxes in digital currencies.

Pixabay – CecileVanMeensel / Arizona would become the first State in the u.s. to accept payment of taxes in Bitcoin.

Here is what the bill provides : “taxpayers will be able to use a payment method such as Bitcoin, Litecoin, or other crypto-currency that is recognized by the administration, based on a system for electronic peer-to-peer. “

A strong signal of the Arizona

Jeff Weninger, a representative of the State of Arizona, is particularly pleased to see these advances. In fact, it is estimated that Arizona sends a very strong signal across the United States : “A signal that shows that Arizona is going to become a geographic area essential for the BlockChain and the digital currencies. “

According to the politician, this new law will allow citizens to pay more easily their taxes. However, the controversy raging because everyone does not agree. The crypto-currencies are once again at the heart of the debate, particularly in the United States, some believing that they are already must-haves, others claiming that they will quickly disappear.

Pixabay – The Digital Artist / The volatility of virtual currencies is pointed out by the specialists.

For the moment, the Senate of Arizona seems to be absolutely convinced of the potential of crypto-currencies. He does not speak of their volatility, however important these last few weeks. Expect, therefore, the decision of the House of representatives. But anyway, this is a real breakthrough highly symbolic for this State in the united states who bet on the virtual currency.

Source : News Bitcoin