Arizona to Allow Tax Payments in Cryptocurrency

In a move that brings Arizona into a field of players getting into Bitcoin and other cryptocurrency space, the State has passed a bill allowing citizens to pay taxes in Bitcoin or other Cryptos.  For the full article Click Here.  This move could allow the state to potentially benefit from by setting a below market conversion rate that could allow them to profit on the required conversion to U.S. Dollars within 24 hours, as is required in the law.  Arizona ranks 33rd in Fiscal Condition Rank currently.  We see this move as being beneficial to their bottom line.  It also further legitimizes the increasing adoption of Bitcoin, which was covered by Forbes in November, 2017.