Arizona may allow residents to pay tax on cryptocurrencies

nRunaway Comment: Some Arizona lawmakers filed a law last month on cryptocurrencies, designed to enable taxpayers to pay taxes and other encrypted currency using bitcoin. At present, this bill has been approved by the Senate, and then if passed smoothly through the state’s House of Representatives deliberations, then it can become a formal law on the ground. Lawmakers who support the bill hope that this measure will help Arizona embrace new technologies and attract more talent.n
nTranslation: Inan
The Arizona Senate passed a bill to allow residents of the region to pay taxes on bitcoin and other cryptocurrencies.n
According to earlier reports, a group of senators in Arizona filed a lawsuit last month that, once passed, taxpayers will be able to pay “taxes and fees and any interest and penalties to the state tax bureau using bitcoin or other cryptocurrencies “. The department will have 24 hours to convert these payments to U.S. dollars.n
Public records show that the state Senate voted on the bill on February 8, and voted in favor of and against it at 16:13. With one-vote abstain, it was finally passed. The bill was then submitted to the state’s lower house for further consideration.n
Although the successful launch of the bill depends on whether the consent of the house can be obtained and the final adjustment the House and the Senate may demand, the ballot situation may eventually pass its deliberations. Members of the Senate Finance Committee passed the bill at the end of last month with a ratio of 4: 3 in favor of and against.n
Arizona Senator Jeff Weninger is one of the proposers of the bill, and he also supports other related bills. Recently, he told Fox News that the tax measure was designed to make Arizona a friendly place for cryptocurrency users.n
He said: “This is one of the many bills we are considering, sending a signal to people in the United States and around the world that Arizona will be the perfect place for future blockchain and digital currency technology developments.”n

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