State Rules on Crypto Currency

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