New Hampshire joins other U.S. states to accept crypto for tax payments
After Ohio officially legalized crypto on a governmental level as a proper tender to pay for business taxes, other U.S. states started actively looking to join. One of the first ones turned out to be the state of New Hampshire, where two senators, Dennis Acton and Michael Yakubovich, introduced the House Bill 470, which proposes the state government to accept cryptocurrencies as a legal payment method for not only tax payments, but also for other state fees. Additionally, the bill also includes a provision for a possibility of an exchange of cryptocurrencies into U.S. dollars via a government-authorized third-party processor.
The bill proposes to have the deadline for the changes to become effective on July 1st, 2020. The first public hearing at the State Senate occurred this past Wednesday, and the sub-committee will review the bill on January 29th.
This announcement comes shortly after the Wyoming State Senate gave cryptocurrencies full banking permissions, which also allowed banks to provide their services in exchange for payments in crypto.
Such an active involvement of cryptocurrency in governmental and financial institutions provide a solid base for a wide mainstream adoption of cryptocurrencies in the U.S. According to the financial analysts, this opportunity didn’t exist before, pointing out to 2019 as being a “historic year” for crypto.