A bill that would allow residents to pay state income taxes in cryptocurrencies is advancing in the Arizona Legislature.
The bill, which was approved by the state senate last month, has been unanimously approved by the house of representatives’ ways and means committee, according to a report at investing.com
Under the bill, Arizona would accept cryptocurrencies as a payment option starting in 2020. The payment would be converted to dollars within 24 hours to compensate for fluctuations in cryptocurrency markets.
Similar bills have recently been introduced in the Georgia and Illinois state legislatures.
