The WSJ [Wall Street Journal] adds, that the moveat the launchappliesentirelyto businesses, with plansto increasetheofferingto discrete taxpayers in future.Beginningon, Ohio-based businessesare going to bereadyto register to pay all of their taxeswithin theleading cryptocurrencies. Crypto payments service namely ‘BitPay’ will be liable for processing these payments.
As per the Wall Street Journal [WSJ] report, this crypto-friendly move was initiated byTreasurernamed Josh Mandel,he told reportershe iswantingto ‘plant a flag’ for Ohio in terms of national crypto-currency adoption. Adding further he said:
“I do see Bitcoin [BTC] as a legitimatetype ofcurrency.”
Joshconjointlytold the publication thathe’s“confident that this cryptocurrency initiativecancontinue”whenhis term ends thisJanuary. Asanelectedstate official, Josh told journalists thathe’sready todecide that hisworkplacecanwork out forthe crypto currencies “without approval from thelaw-makersor governor,” the Wall Street Journal [WSJ] reports.
Indistinction,manybills inalternativeU.S. stateswithin thepast year that proposeacceptivecrypto for taxesare initiated,howeverstate lawmakers have delayed their final passing.
As earlier also reported, the Arizona House of Representatives passed aninvoicethatpermit its votersto pay their taxesusingcryptocurrencies,howeverfollowing the vote, the initiative has been interfere with amendments.
In Feb., the U.S. state of Georgiaconjointly introduced a billto only acceptcryptocurrencies asa legitimatetype ofpayment for state taxes and licenses.
“25% progression, died in committee”, the bill’s standingreads, at the reporting time.