U.S. State Florida Set to Accept Bitcoin and Cryptos for Tax Payments

A U.S. state Florida is set to follow the steps of Colorado to adopt Bitcoin (BTC) and other cryptocurrencies as means of tax payments.

Governor Ron DeSantis said on Tuesday, “We will accept bitcoin, we’re working on doing that for payments in the state of Florida.”

According to the Governor, state agencies are currently working on ways to incorporate tax payments using cryptocurrency in Florida.

At a press conference in Wesley Chapel, Gov. DeSantis said “We are working – and I’ve told state agencies – figure out ways where if a, business wants to pay tax in cryptocurrency to Florida, we should be willing to accept that.”

According to the report, DeSantis has been embracing Florida’s reputation as an emerging hub for crypto investment, with companies such as blockchain.com opening up offices in Miami.

Back in December last year, the Governor proposed a program to enable businesses to pay state fees in digital currencies.

DeSantis, who is a potential Republican presidential candidate, noted the difference between the decentralized nature of Bitcoin and digital currencies owned by the government.

He said he was concerned about the executive order signed by President Joe Biden on 9th March, which called on federal agencies to research a number of topics about central Bank Digital Currency (CBDC).

Gov. DeSantis noted:

“There’s a difference between a decentralized digital cryptocurrency like a Bitcoin and what some are talking about doing at the federal level to convert U.S. dollars into basically a digital currency.

“I think there’s a lot of hazards with that, when that’s centrally controlled. I worry about the amount of power that would give someone in a central authority to basically be able to shut off access to purchasing certain goods. We’d be in uncharted territory.”

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