Colorado governor, Jared Polis, says the state will still accept crypto for taxes, making it the first one to do so for individuals.  Covered: Colorado Will Accept Crypto For Tax Payments Jared Polis’ Bullish Crypto Past Colorado Will Accept Crypto For Tax Payments Speaking at the National Governors Association, Colorado Governor Jared Polis assured citizens […] The post Colorado Governor Says State Will Still Accept Crypto appeared first on CryptosRus.

Colorado Governor Says State Will Still Accept Crypto

Colorado governor, Jared Polis, says the state will still accept crypto for taxes, making it the first one to do so for individuals. 

Covered:

  • Colorado Will Accept Crypto For Tax Payments
  • Jared Polis’ Bullish Crypto Past

Colorado Will Accept Crypto For Tax Payments

Speaking at the National Governors Association, Colorado Governor Jared Polis assured citizens of the state that Colorado will still accept tax payments in crypto. He also noted that the current sell-off of the crypto market will not undermine his proposed tax plan to accept crypto.

Polis compared the tax proposal to how international companies accept payment in foreign currencies, explaining that the US dollar fluctuates in value too. His plan is to accept crypto payments and convert the currency directly to fiat:

“The state would not hold any assets in crypto, those would be instantly converted back into dollars when the transaction occurred… The government would not be interested in participating in the speculative aspects – positive or negative. We would simply use it as a means of exchange for purposes of payment.”

Jared Polis’ Bullish Crypto Past

The Colorado Governor isn’t a rookie when it comes to crypto. In fact, Polis — who’s a Democrat — was the first politician to legally accept Bitcoin as donations for his campaign.

Back in 2014, Polis, who at the time was a U.S. House Representative for Colorado, poked fun at US senator Joe Manchin over Bitcoin. Manchin had written a letter urging lawmakers to outright ban BTC because of its use in illegal activities.

Polis responded by replacing the word “Bitcoin” with “dollar bills”:

“It’s important to continue to establish the basic fact that the dollar is the currency of choice for cartels, criminals, and illicit transactions and is likely to stay that way for the foreseeable future,”

*drops mic.

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