Senate of Arizona passed a bill permitting payment of taxes by crypto-currencies
The Arizona Senate passed a bill that would allow state tax residents to pay tax fees using bitcoins or other cryptocurrencies.
Recall last month, the State Senate was given a bill that would allow taxpayers to use bitcoin and other crypto-currencies to pay “tax collections, penalties, and fines” in favor of the Department of Taxes and Charges. In its turn, the Department undertakes to convert such payments into US dollars within 24 hours.
The public results of the vote show that the Senate passed the bill on February 8, by a majority of votes (thirteen of sixteen) and one abstention. The bill was submitted to the State House of Representatives for further consideration.
The success of this project depends not only on the approval of the House of Representatives but also on additional coordination in the event that the House of Representatives and the Senate prepare different versions.
A successful vote in the House of Representatives will be a good sign for the final approval of this bill. At the end of last month, representatives of the Senate Finance Committee supported the bill in three votes out of four.
The representative of the State of Arizona, Jeff Winninger, who is one of the co-authors of this document, as well as a number of related bills, told Fox News about one of the submitted projects in detail.
This bill abolishes the regulation of blockchain at the local and district levels, thereby making the state a more suitable place for users of this technology.
“This is one of the many bills that we are launching. With their help, we send a signal to the United States, and also to the whole world, that Arizona will become a place of wide application of cryptocurrency and blockchain technology in the near future, “Winninger told Fox News reporter.