States Examine Cryptocurrency As New Way To Collect Tax

Law360 (February 28, 2018, 7:24 PM EST) -- At a time when the volatile path of bitcoin has gained it newfound notoriety and public awareness, lawmakers in at least two states are embracing the cryptocurrency trend and looking to make it legal tender for the payment of taxes.

In what has become a legislative race for the history books, pending bills in Arizona and Georgia not only would make cryptocurrency a valid form of payment for state taxes, but would also lift the legitimacy of these digital alternatives to dollars.

"I believe it can provide another alternative that is safe, fast, cheap and convenient," said Arizona state Sen. Warren...

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