The State Of California Prepares To Accept Bitcoin Payments And Make History

2022-02-23 00:11:44
California About To Officially Recognize Bitcoin Payments

According to the latest news from the West Coast, the state of California will most likely accept bitcoin payments for ‘provision of government services’.

Moreover, Senator Sydney Kamlager of California, already filled the new ‘bitcoin’ Bill 1275 on Friday. Now, it remains for the state court in California to change the current government code that applies specifically to services provided by state agencies, by adding the new section regarding bitcoin payments as an option.

And, judging by the current and ongoing wave of U.S. states that are seeking to implement similar legislations/solutions, California is just on time to take advantage of the trend, and adopt government bitcoin payments.

As per Bill 1275, each California state agency would be eligible to accept bitcoin payments as an option. And that is regarding specifically to the provision of government services, at least for the time being.

Similar to California, the state of Colorado also revealed that it will start a similar crypto project, involving bitcoin payments and government services. In particular, Governor Jared Polis announced last week that citizens of Colorado will be able to pay their state taxes via crypto, bitcoin included, by the start of this summer.

Interestingly though, the Governor also stated that Colorado will exchange each crypto into fiat U.S. dollars, regardless of the volume of the payments. This is despite saying that Colorado enjoys a reputation of a ‘very forward-looking, innovative state’.

The Rest Of The U.S.

Missouri and Tennessee are two U.S. states that are also in the process of implementing/adopting crypto.

Specifically, in early February of 2022, Jason Powell, Tennessee State Representative, introduced two crypto-related bills. The first bill was permission for the state and the municipalities of Tennessee to purchase bitcoin/crypto for their state treasuries.

The second bill was with the purpose to establish a special crypto committee that would ‘help determine how to make Tennessee the most forward-thinking and pro-business state for cryptocurrency and blockchain and to foster a positive economic environment for blockchain and cryptocurrency.

Just a few days after Tennessee rep. Powell introduced the crypto bills, Phill Christofanelli, State Representative from Missouri also announced an interesting crypto adoption.

The way Missouri wants to enter the crypto world, is by cutting taxes, specifically for bitcoin. While adding that the state of Missouri should remain ‘open to innovation’, the State Representative made a proposal that would make all bitcoin transactions exempt from any taxes whatsoever.

Whatever the end result, the fact remains that the United States is on the brink of full crypto roll-out in 2022.

 

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