Florida Governor Says State Working Towards Accepting Bitcoin for Taxes

Florida governor Ron DeSantis says he’s working towards allowing the state’s government to accept taxes in crypto.

According to a report by The Block, DeSantis made his comments during the signing of a financial literacy curriculum bill on March 22. During the press conference, the governor explained he had asked state agencies to begin preparing to accept tax payments in crypto. 

Governor DeSantis said:

We are working – and I’ve told state agencies – figure out ways where if a business wants to pay tax in cryptocurrency to Florida, we should be willing to accept that. 

DeSantis said that Florida was working specifically to accept Bitcoin for tax payments, saying “we will accept Bitcoin.”

The governor also highlighted a provision he had pushed in a previous budget proposal to allocate funds for the exploration of blockchain as a way to improve state functions. Despite the governor’s efforts, the provision did not pass the state’s legislature. 

According to the report, DeSantis made it clear to distance his pro-crypto proposal from that of state-controlled digital money proposals. DeSantis argued there were “hazards” related to federally controlled digital currencies, and that he was worried about the amount of power it would give someone in a central authority. He said such a move would result in “uncharted territory.” 

DeSantis also claimed to be “very concerned” over the Biden Administration’s recent executive order on crypto. 

Meanwhile over in Colorado, according to a report by Cointelegraph published on March 24, governor Jared Polis “announced in February that the state government plans to allow residents to pay taxes in cryptocurrencies as early as the summer of 2022,” a move that some experts claim is “both legitimizing for the crypto asset class and was expected to come in due time.”

Disclaimer

The views and opinions expressed by the author, or any people mentioned in this article, are for informational purposes only, and they do not constitute financial, investment, or other advice. Investing in or trading cryptoassets comes with a risk of financial loss.

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