Colorado will accept crypto for taxes starting this summer

Colorado will accept crypto for taxes starting this summer
фото показано с : invezz.com

2022-2-17 11:46

The cryptocurrency regulatory framework in the US might not be well established, but this has not hindered the use and adoption of digital assets. Multiple states are rushing to endorse crypto assets and promote their regions as hubs for cryptocurrency trading.

Colorado has joined the list of states that are endorsing crypto. The governor of Colorado, Jared Polis, is considering accepting cryptocurrencies for taxes in the coming summer season.

Colorado governor endorses crypto

During an interview with CNBC, Polis said that the state planned to accept cryptocurrencies for taxes. However, the governor acknowledged that cryptocurrencies were highly volatile assets. To ensure that the state’s funds are not affected by the volatility, Colorado will immediately convert the crypto into USD.

Colorado will also not hold any cryptocurrency on the state’s balance sheet. During the interview, Polis noted that he does not hold any Bitcoin or any cryptocurrency. He also urged buyers to be aware of the volatility of the crypto market.

Polis also noted that the underlying technology of cryptocurrencies had immense potential. He noted that the concept of cryptocurrencies and their underlying technology was here to stay, as it would lower the transaction costs and boost efficiency. The benefits of the crypto sector would lure more investors into the space.

Battle for crypto dominance  

At least 20 states in the US are considered crypto-friendly. These states have crypto or blockchain specific bills that are being discussed to make them attractive to blockchain firms. Some of these states include Texas, Colorado, Wyoming and Florida.

According to Polis, the growing competition among states to endorse crypto could spark action from the federal government to come in, regulate the sector and create a more favourable ecosystem.

Polis also dismissed that Colorado would create its own state token such as the one created by Miami. According to Polis, having a private cryptocurrency for the state was contrary to what the entire crypto sector was about, breaking free from government control. However, he floated the idea that blockchain technology could be adopted for various government functions such as local elections.

The post Colorado will accept crypto for taxes starting this summer appeared first on Invezz.

Similar to Notcoin - Blum - Airdrops In 2024

origin »

Global Cryptocurrency (GCC) на Currencies.ru

$ 0 (+0.00%)
Объем 24H $0
Изменеия 24h: 0.00 %, 7d: 0.00 %
Cегодня L: $0 - H: $0
Капитализация $0 Rank 99999
Цена в час новости $ 0.0034358 (-100%)

cryptocurrency assets crypto states adoption digital multiple

Источник: invezz.com

cryptocurrency assets → Результатов: 126


Фото:

BTC, ETH And BCH Owned In Huge Amounts By Members Of The White House

Within the United States, members of Congress and other authorities are starting to be required to account for and declare their digital assets. This is a little bit of a paradox in that cryptocurrency was designed to challenge government control, yet in this scenario, we are seeing members of one of the world’s most powerful governments declare their crypto assets, on a frankly colossal scale.

2018-8-7 13:30


Фото:

Another Major Swiss Bank Begins Accepting Cryptocurrency Assets

Yet another major Swiss bank, Maerki Baumann Private Bank in Zurich, announced it will begin accepting cryptocurrency. Setting the Tone? In July 2017, Switzerland’s Falcon Private Bank announced that it will be storing and trading Bitcoin within its very own asset infrastructure, challenging the status quo as most banks in the country refuse to accept cryptocurrencies.

2018-8-7 02:00


You won’t be able to spend your cryptocurrency in Starbucks anytime soon

No, you won’t be able to spend your cryptocurrency at Starbucks. Last Friday, Starbucks announced that it would be joining and supporting a project known as Bakkt. If successful, Bakkt will leverage Microsoft’s cloud solutions – probably their blockchain based Azure platform – to create an infrastructure for managing and using digital assets.

2018-8-6 15:01


Фото:

Liechtenstein-based Blocktrade.com to Become First Fully Compliant Crypto Exchange, to Support Security Tokens and Tokenized Assets

Potential investors are sometimes hesitant to go into cryptocurrencies because of their volatility and the fact that not many crypto exchanges are compliant with regulations. For crypto investors who want to trade in these digital assets in a more secure platform, Liechtenstein-based Blocktrade.

2018-8-3 17:01


XInfinity ICO

X-infinity Limited is a FinTech company that develops a secure cryptocurrency wallet, where you can keep all your cryptocurrency assets together. The wallet is linked to a personalized debit card, which you can spend at any intentional retailers that accepts debit cards and also allows for International ATM cash withdrawals.

2018-8-2 01:58


CryptowCompare needs to provide Thompson Reuters with data of crypto assets

CryptoCompare will source all its data to the Thomson Reuters’ Eikon platform thereby providing a comprehensive view of the crypto market price movements. Canada-based media giant Thomson Reuters has entered into a strategic partnership with the global cryptocurrency market data aggregator CryptoCompare to track 50 more cryptocurrency assets on its finance data feed. As a

2018-8-1 12:21


Фото:

Frank Holmes of US Global Investors Explains Cryptocurrency Volatility

Although cryptocurrencies have a promising future, one of the biggest hurdle it has to overcome is the current volatility. Understanding some reasons as to why cryptocurrencies are much more volatile than other assets in the market can help investors better cope with expectations and make sound investment strategies. Frank Holmes, the CEO of U.S. Global […]

2018-8-1 10:34


CryptoCompare 50 offers Crypto assets data information with Thomson Reuters

CryptoCompare will source all its data to the Thomson Reuters’ Eikon platform thereby providing a comprehensive view of the crypto market price movements. Canada-based media giant Thomson Reuters has entered into a strategic partnership with the global cryptocurrency market data aggregator CryptoCompare to track 50 more cryptocurrency assets on its finance data feed. As a

2018-8-1 10:33


дальше еще 77 новостей →

Партнеры Currencies.ru

Аналог Notcoin - Blum - Играй и зарабатывай Монеты



Реклама на Currencies.ru

Самое свежее на Currencies.ru

Bitcoin Drops Below $100,000: The End Or Beginning Of The Crypto Bull Market?

Bitcoin, the titan of the cryptocurrency world with a market cap hovering around $1. 9 trillion, has experienced a significant downturn, dipping below the psychological threshold of $100,000. This flash dump, occurring over just three days, has left many investors and analysts questioning whether this marks the end of the current bull market or signals a healthy correction within an ongoing bullish trend.

ASIC Targets Binance Australia Over Landmark Case In Crypto Regulation

The Australian Securities and Investments Commission’s (ASIC) most recent action against Binance Australia marks a significant advancement in cryptocurrency regulation. The cryptocurrency community is in disbelief over this case, which will likely have a lasting impact on how digital currencies are governed in Australia and other nations.

UAE’s Bitcoin Holdings Soar To $40 Billion As Bull Season Continues

The United Arab Emirates (UAE) recently witnessed its Bitcoin holdings reach an impressive $40 billion, marking a significant milestone in the country’s cryptocurrency journey. This investment surge aligns with a global bull market that has reignited interest in digital assets.

UAE’s Bitcoin Holdings Soar to $40 Billion As Bull Season Continues

The United Arab Emirates (UAE) recently witnessed its Bitcoin holdings reach an impressive $40 billion, marking a significant milestone in the country’s cryptocurrency journey. This investment surge aligns with a global bull market that has reignited interest in digital assets.

ASIC Targets Binance Australia Over Groundbreaking Case in Crypto Regulation

The Australian Securities and Investments Commission’s (ASIC) most recent action against Binance Australia marks a significant advancement in cryptocurrency regulation. The cryptocurrency community is in disbelief over this case, which will likely have a lasting impact on how digital currencies are governed in Australia and other nations.