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Georgia Tax Amendment to Allow Cryptocurrency

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Georgia is underway to make welcome changes towards the tax laws and collection methods. Two senators from the state of Georgia, have proposed to allow citizens to pay their taxes and other licensing payments with bitcoin and other digital currencies. The bill was submitted on February 21. The aims of the bill are quite similar to the recent blockchain-centric bills that were filed in the state of Arizona.

“The commissioner shall accept as valid payment for taxes and license fees any cryptocurrency, including but not limited to Bitcoin, that uses an electronic peer-to-peer system,” the text from GA SB464 states.

The move by Georgia lawmakers mirrors that actions of the state of  Arizona. they have also seen bills proposing similar objectives with regards to bitcoin. In fact, one of Arizona’s bills has already been passed by the Senate Finance Committee. “Arizona is going to be the place to be for blockchain and digital currency technology in the future,” stated Arizona Representative Jeff Weninger to the Press.

The reason for the positive move is the fact that Georgia and Arizona both have quite a large digital currency community. Georgia is even home to a variety cryptocurrency-based companies such as Bitpay, Bitfury, and has over 100 BTMs (bitcoin teller machines).

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