Arizona is poised to become the first state to accept tax payments in cryptocurrencies. The state's 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 Arizona's House of Representatives.

According to the bill, the state's Department of Revenue, upon receiving payments in crypto for “tax and any interest and penalties”, would be obligated to convert the cryptocurrency payments to U.S. dollars within 24 hours.

Read more: Arizona Poised to Accept Tax Payments in Bitcoin @ https://www.investopedia.com/news/arizone-votes-accept-tax-payments-bitcoin/?utm_source=personalized&utm_campaign=bouncex&utm_term=12273569&utm_medium=email