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Arizona Cryptocurrency Tax Bill Has More Hurdles To Clear

Published 19/02/2018, 11:47 pm
Updated 19/02/2018, 11:47 pm

Investing.com - Groundbreaking legislation in Arizona allowing residents to pay their taxes in bitcoin and other cryptocurrencies is far from becoming law.
Though the state senate has already approved the bill, the house of representatives won't vote on it until late February or early March, according to a spokesman for the bill's sponsor.
At this point, it is unknown if the bill has the votes to win approval in the house, especially since the minority leader opposes it. It is also unknown if the state's governor supports the bill and would sign it into law.
Thus far, California is the only U.S. state to allow the use of cryptocurrencies in any form of payment. Cryptocurrencies, however, are not legal tender in the state.
Arizona previously passed a law allowing the use of blockchain ledger technology in state contracts.

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