The Arizona Senate passed the Bill 1091, which plans to allow cryptocurrencies for tax payment, was introduced on 10 January, and passed by the Senate Finance Committee on 24 January. On Feb. 8, the Senate passed the bill by a 16-13 margin, with one no-vote.
The Senate adopted a bill to enable residents in the state to pay their taxes with virtual currencies, public records indicate on 8 February. In this time the Arizona Senate passed the bill by a 16-13 margin, with one no-vote. The bill would enable taxpayers of the state to use “a payment gateway, such as Bitcoin, Litecoin or any other cryptocurrency recognized by the department, using electronic peer-to-peer systems.”
Arizona may become the first state in the U.S.A. which will recognize cryptocurrency tax payments by the year of 2020, as stated on the public record.
Jeff Weninger one of the Arizona State Republican Representatives , who co-legislator the bill, said the tax measure intends to turn the state into a core of “blockchain and digital currency technology in the future”. Referencing to the tax bill, Weninger said on his interview for Fox News in this week:
“It’s one of a litany of bills that we’re running that is sending a signal to everyone in the United States, and possibly throughout the world, that Arizona is going to be the place to be for blockchain and digital currency technology in the future.”