A bill was introduced in the Arizona Senate on January 9, which, if passed will allow the State to receive tax payments in the form of cryptocurrency.
The bill’s primary sponsor is State Senator Warren Petersen from the Republican Party. The three other sponsors are Senator Farnsworth, and Representatives Grantham and Weninger, who are also Republican.
Since it was introduced, the bill has made the rounds from the Senate FIN and Rules Committees and was read the second time on January 11. Further developments on the bill are yet to be made public.
The bill proposes amendments to the current State legislature on tax payments, which previously only mentioned payments through check. The amended version now talks about setting up a payment gateway for Bitcoin and other cryptocurrencies that will allow the tax department to convert those payments made in cryptocurrency, to their respective value in USD.
Reactie plaatsen
Reacties