DeSantis: Florida May Soon Accept Crypto for State Business Taxes

Share on facebook
Facebook
Share on twitter
Twitter
Share on linkedin
LinkedIn
Share on pinterest
Pinterest
Share on pocket
Pocket
Share on whatsapp
WhatsApp
DeSantis: Florida May Soon Accept Crypto for State Business Taxes

Governor Ron DeSantis of Florida has said his state is working toward accepting cryptocurrencies as payment for business taxes.

Key Takeaways

  • Florida’s governor, Ron DeSantis, has stated that his state is working toward accepting cryptocurrencies for business taxes.
  • Governor DeSantis also expressed concerns over CBDCs and President Biden’s recent executive order on digital assets.
  • The revelation is the latest in a series of crypto-forward initiatives from around the State of Florida.

The governor of Florida, Ron DeSantis, has said that steps were being taken so that his state could accept Bitcoin and other cryptocurrencies for business tax payments. 

Florida to Accept Crypto

The state of Florida might soon accept digital assets for business taxes. 

Yesterday, Governor Ron DeSantis said

“We are working, and I’ve told the state agencies: figure out ways where if a business wants to pay tax in cryptocurrency to Florida, we should be willing to accept that. So we’re working through that.”

He concluded his talk of crypto on a strong note, saying that “we will accept Bitcoin.” 

DeSantis also revealed his skepticism toward a central bank digital currency. While he embraced decentralized digital currencies like Bitcoin, he cautioned about “what some are talking about doing at the federal level to convert U.S. dollars into basically a digital currency.” 

Governor DeSantis opined:

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

He supported this view by mentioning the financial institutions that have “cut people off” at the “behest of government.”

Finally, Governor DeSantis noted how he was “very concerned” about the Executive Order on crypto assets that President Biden recently signed, though he did not expand on this concern. 

Last month, Governor Jared Polis of Colorado said his state would accept cryptocurrencies for tax payments by this summer. However, these state tax payments would first be converted to fiat currency. Both Wyoming and Arizona seem to have similar plans. 

Within Florida, politicians in certain cities have a pro-crypto stance. Miami’s mayor, Francis Suarez, teased last November the idea of distributing Bitcoin yield to the city’s residents, apparently made possible by CityCoins. He also introduced a plan that would allow him and other city employees to accept their paychecks in Bitcoin, something that Tampa’s mayor, Jane Castor, has also expressed an interest in. 

Disclosure: At the time of writing, the author of this piece owned BTC, ETH, and several other cryptocurrencies. 

The information on or accessed through this website is obtained from independent sources we believe to be accurate and reliable, but Decentral Media, Inc. makes no representation or warranty as to the timeliness, completeness, or accuracy of any information on or accessed through this website. Decentral Media, Inc. is not an investment advisor. We do not give personalized investment advice or other financial advice. The information on this website is subject to change without notice. Some or all of the information on this website may become outdated, or it may be or become incomplete or inaccurate. We may, but are not obligated to, update any outdated, incomplete, or inaccurate information.

You should never make an investment decision on an ICO, IEO, or other investment based on the information on this website, and you should never interpret or otherwise rely on any of the information on this website as investment advice. We strongly recommend that you consult a licensed investment advisor or other qualified financial professional if you are seeking investment advice on an ICO, IEO, or other investment. We do not accept compensation in any form for analyzing or reporting on any ICO, IEO, cryptocurrency, currency, tokenized sales, securities, or commodities.

See full terms and conditions.

NFT Express: Your on-ramp to the world of NFTs

At Tatum, we’ve already made it super easy to create your own NFTs on multiple blockchains without having to learn Solidity or create your own smart contracts. Anyone can deploy…

How Wyoming Became a Crypto Hub

Wyoming is fast becoming the beacon for crypto adoption in America, having established a mature legal framework needed for the digital assets industry to flourish.  Wyoming’s Lead in Crypto Regulation…

Colorado to Accept Crypto for State Taxes From This Summer


News


Colorado Governor Jared Schutz Polis says the U.S. state will accept crypto for taxes from this summer. Colorado Prepping Tax Collection in Bitcoin Colorado residents will soon be able to…

Trudeau Says He’ll Freeze Bank Accounts; Crypto Fans Point to Bi…

In response to the trucker-led protests over vaccine mandates, the Canadian government has for the first time invoked the 1988 Emergencies Act, meaning it can freeze or suspend citizens’ bank…

Read More

Share on facebook
Facebook
Share on twitter
Twitter
Share on linkedin
LinkedIn
Share on pinterest
Pinterest
Share on pocket
Pocket
Share on whatsapp
WhatsApp

Never miss any important news. Subscribe to our newsletter.

Leave a Reply

Your email address will not be published.

Receive the latest news

Subscribe To Our Weekly Newsletter

Get notified about new articles