Jared Polis, the Governor of Colorado, stated in an ETHDenver talk that Colorado will accept state taxes and fees in cryptocurrency by the summer of 2022.
Polis stated the reason for utilizing crypto payments was for faster payment speed and user convenience. The state is still looking for companies to handle the actual transactions.
“We won’t be holding those assets in that form, but we will have a layer that accepts payment in those forms and then conversion into the units that we use, which is dollars, for budgeting and payments…but as a matter of convenience for the public, we will be accepting first for taxes and then for many different fees and services by this summer.”
Jared Polis, ETHDenver
As a Colorado congressman in 2014, Polis was one of the first U.S. politicians to accept campaign donations in bitcoin.
Although Colorado isn’t the first state to accept taxes through crypto, pilot programs in states such as Ohio were unsuccessful. Polis states that Ethereum and blockchain are a “critical part of Colorado’s overall innovation ecosystem,” being a crypto-forward state.