Jared Polis, the governor of the US state of Colorado, cryptocurrency the state’s tax payments despite the decline in the market bitcoin and other cryptocurrencies.
Colorado Governor Police Wants Bitcoin To Become Just A Taxpayer
Speaking at the “National Governors Association” meeting on Saturday, the Police stated that in its plan, official institutions will immediately convert payments made with cryptocurrencies into dollars and will not hold any crypto money for a certain period of time.
The police expressed their thoughts as follows: “The state will not hold crypto assets. Instead, payments made will be instantly converted into dollars upon the transaction. The US government, positive or negative, is not interested in this kind of speculative business. Our aim is simply to use cryptocurrencies as a payment method with a currency-like logic.”
Jared Polis stated that the dollar also experienced a fluctuation in its value against foreign currencies and claimed that his proposal was similar to the fact that international companies receive payments in foreign currencies.
These days, we hear more and more that public institutions in the USA are starting to take various steps regarding Bitcoin. A short while ago, there were developments in this area in the states of Texas and Arizona. While some states are trying to make Bitcoin the official currency, others, like Colorado, want to use cryptocurrencies only as a tool for paying taxes. However, due to the volatile nature of cryptocurrencies, some experts are distant to the subject.