As the cryptocurrency market continues to experience a volatile run, its long-time bulls celebrate a major win as the state of Arizona comes one step closer to allowing its residents to use digital currencies such as bitcoin to pay their taxes.
On Thursday, the Arizona Senate passed a bill that would allow payment of state income taxes via cryptocurrencies to be “recognized” by the state’s revenue authorities. The law has moved on to be considered by the state’s House of Representatives.
“The ease of use, being able to do it in the middle of the night, being able to do it at home while you’re watching TV … I think in a few years this isn’t even going to be a question,” said Arizona state Rep. Jeff Weninger.
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