Crypto Tax Payments Get Few Takers as More States Eye Programs

In the two years since Colorado became the first state to accept cryptocurrency for payment of taxes, it hasn’t collected enough revenue to cover the cost of a single Bitcoin. Utah, the only other state to accept digital currency for taxes, hasn’t received any payments at all.

Despite taxpayers’ general lack of enthusiasm for digital currency as a payment method, policy makers in a handful of states are lining up to follow Colorado and Utah. Arizona came close this year to passing a bill, S.B. 1128, directing the state to accept cryptocurrencies for payment of taxes, fines, and fees. ...