Starting this summer, Colorado authorities will allow citizens to pay taxes and fees in cryptocurrencies, The Block has reported with reference to statements made by the state's governor, Jared Polis, during the ETHDenver conference.
According to him, the aim of this measure is to increase the convenience of users and the speed of payments. Polis has stressed the administration will not own digital assets, but will immediately convert them to US dollars. He has said:
"As a matter of convenience for the public, we will be accepting first for taxes and then for many different fees and services by this summer."
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During the speech, he has also stressed Ethereum and blockchain are a "critical part of Colorado’s overall innovation ecosystem."
Other similar initiatives have failed in other states such as Arizona and Illinois, where they have not received the support of legislators, while the state of Ohio approved the payment of taxes in Bitcoin, however, shortly after it stopped accepting payments in the cryptocurrency due to the low demand for the service.