Colorado's law makers joined forces with PayPal to allow residents pay their taxes in BTC, ETH, LTC, and BCH.
Colorado’s law makers joined forces with PayPal to allow residents pay their taxes in BTC, ETH, LTC, and BCH.
Still, Colorado’s Revenue Department is not allowed to accept direct crypto payments, which is why it partnered with PayPal, which will help with the transactions.that Colorado residents are now able to use cryptocurrencies as a means of payment for business income tax, individual income tax, sales and use tax, severance tax, withholding tax, and excise fuel tax. Apart from Bitcoin and Ether, individuals can employ Bitcoin Cash and Litecoin, too.
The Revenue Department can not accept direct digital asset settlements, so it joined forces with the multinational fintech company PayPal. It will act as a broker for each transaction and convert cryptocurrencies into US dollars, meaning consumers will have to pay certain fees for that service.
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