Arizona authorities want to allow to pay taxes bitcoin

Arizona authorities want to allow to pay taxes bitcoin

Around bitcoins digital cryptocurrency, the recent rise all the more noise. And then, as many say, does not seem unusual and out of the ordinary. Now people quietly pay bitcoin shop, from plane tickets and furniture up to pizza delivery. But this is not the limit, because the authorities of Arizona’s plan to allow the use of bitcoin for payment of taxes.

In Arizona ready-made bills, which are able in the roots to change the government’s attitude towards cryptocurrencies, such as bitcoin. One bill recognizes them as a currency and the other will allow Arizona taxpayers to pay taxes using bitcoin.

Arizona authorities want to allow to pay taxes bitcoin

According to a study at the University of Cambridge, the number of unique active users of cryptocurrency wallets with ranges from 2.9 to 5.8 million people. In July 2010 the cost of one bitcoin was 6 cents. As at 3 February this year one bitcoin is worth 9 $ 300. Since the beginning of 2009 the number of bitcoins in circulation increased to 16.8 million, so it is absolutely clear that in the currency world there is a new serious player.

However, critics of the revolutionary adoption of the bill believe that an already installed system is sufficient, and if the Senate of the state of Arizona will vote for its implementation in practice, it is put all taxpayers under attack if bitcoin will suddenly collapse.

Recall that bitcoin is rather ephemeral monetary unit there is only online. It uses technology blockchain the total database writes and shares information about each transaction that takes place in a network of users. Five States have adopted or are working on passing laws on the blockchain.

According to the world economic forum, taxes will be charged through the blockchain at the official level by 2023. If the bill in Arizona is passed, taxpayers can pay through the blockchain just two years.