What is happening? As we’re not near federal rules on crypto currency, let’s see what the states are up to.
Why is this important? An overview of state crypto rules:
- Arizona is considering legislation to make bitcoin legal tender.
- California is considering legislation to allow people to pay for state services with cryptocurrency
- Colorado Governor announced on twitter that the state will accept tax payments in cryptocurrency.
- Colorado will become the 1st state to do so
- Ohio had a 2018 pilot program for accepting cryptocurrency for some taxes but the program was short lived
- Wyoming has been laying the ground work for a state cryptocurrency
How will this be important? There are 50 states and no federal rules. There is a lot more legislative and regulatory action coming your way on crypto.
WFAE | With federal rules unclear, some states carve their own path on cryptocurrencies