The way I see it the US is becoming quite crypto friendly, now that China has made its stance clear on Bitcoin, meaning that it has "almost completely" kicked it out of the country.
We have mayors having their paychecks in Bitcoin, both the Miami and New York mayor doing that, and according to a Cryptoslate report it seems that Colorado residents can now pay their taxes in crypto, or at least they will be able to do that soon...
As a sign of the mainstream public’s continued adoption of digital assets, Governor Jared Polis of Colorado, a state in the western part of the United States, disclosed that they would start accepting cryptocurrencies like Bitcoin and Ethereum as a payment option for taxes in the state.
“Our budget is still in dollars, our expenditures are still in dollars, and, of course, we don’t want to take the speculative risk of holding crypto, so we will be having a transactional layer there. It will be entering our systems as dollars.”
-Governor Jared Polis of Colorado
Meanwhile in my part of the world cash is kind and to some extent that is simply great because cash offers you privacy and financial freedom. I still love cash and I also love crypto, but... would I pay any tax in crypto?
Hmmm, why not?
But I wouldn't do that with Bitcoin or Ethereum, as the Colorado residents will be able to use, I'd rather stick with stablecoins. Ever since I started using crypto for "almost daily" purchases, I've been doing that by using stable coins.
I don't feel comfortable "giving away" an asset that might appreciate over time, it just doesn't feel right. With stable coins I feel more stable :D and yeah I'd pay taxes with it. I don't actually pay much taxes, but the ones that I do I'd definitely opt for crypto payments.
What about you, would you pay for any tax with crypto, if your current residence country would allow that?
Thanks for attention,
Adrian