DeSantis: Florida May Soon Accept Crypto for State Business Taxes

Key Takeaways

  • Florida’s governor, Ron DeSantis, has said that his state is working towards accepting cryptocurrencies for enterprise taxes.
  • Governor DeSantis additionally expressed issues over CBDCs and President Biden’s latest govt order on digital belongings.
  • The revelation is the most recent in a sequence of crypto-forward initiatives from across the State of Florida.

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The governor of Florida, Ron DeSantis, has mentioned that steps have been being taken in order that his state might settle for Bitcoin and different cryptocurrencies for enterprise tax funds. 

Florida to Settle for Crypto

The state of Florida would possibly quickly settle for digital belongings for enterprise taxes. 

Yesterday, Governor Ron DeSantis mentioned

“We’re working, and I’ve advised the state businesses: determine methods the place if a enterprise needs to pay tax in cryptocurrency to Florida, we ought to be prepared to just accept that. So we’re working by that.”

He concluded his discuss of crypto on a robust observe, saying that “we are going to settle for Bitcoin.” 

DeSantis additionally revealed his skepticism towards a central financial institution digital forex. Whereas he embraced decentralized digital currencies like Bitcoin, he cautioned about “what some are speaking about doing on the federal degree to transform U.S. {dollars} into principally a digital forex.” 

Governor DeSantis opined:

“I feel there’s lots of hazards with that when that’s centrally managed. I fear in regards to the quantity of energy that that will give somebody in a government to principally have the ability to shut off entry to buying sure items.”  

He supported this view by mentioning the monetary establishments which have “minimize individuals off” on the “behest of presidency.”

Lastly, Governor DeSantis famous how he was “very involved” in regards to the Govt Order on crypto belongings that President Biden just lately signed, although he didn’t broaden on this concern. 

Final month, Governor Jared Polis of Colorado mentioned his state would settle for cryptocurrencies for tax funds by this summer time. Nonetheless, these state tax funds would first be transformed to fiat forex. Each Wyoming and Arizona appear to have related plans. 

Inside Florida, politicians in sure cities have a pro-crypto stance. Miami’s mayor, Francis Suarez, teased final November the concept of distributing Bitcoin yield to town’s residents, apparently made attainable by CityCoins. He additionally launched a plan that will enable him and different metropolis staff to just accept their paychecks in Bitcoin, one thing that Tampa’s mayor, Jane Castor, has additionally expressed an curiosity in. 

Disclosure: On the time of writing, the writer of this piece owned BTC, ETH, and a number of other different cryptocurrencies. 

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