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New Hampshire Parliament To Consider Law On Crypto Payments

21:11 24/01/2019
Crypto Tax Payment Law Is Developed In New Hampshire

Two lawmakers of the US state of New Hampshire have developed a bill that allows government agencies, in particular, the tax department, to accept crypto payments. The document is published on LegiScan.

 

Dennis Acton and Michael Yakubovich, members of the lower house of the state parliament, introduced Law No. 470, which obliges the New Hampshire authorities to accept cryptocurrency as a means of paying taxes and other fees with the help of third parties. If this bill is approved, the state treasury will have to develop a plan for making such payments.

 

According to current regulations, government organizations can only accept US dollars. In case of payment in other currencies, the money is returned to a payer.

 

The new rules envisage accepting an undefined number and type of digital assets through processing, which will conduct cryptocurrency operations for the state for free.

 

If the bill passes all the hearings, and the majority of parliamentarians vote for it, the state institutions of New Hampshire will start accepting crypto payments from July 1, 2020. The first meetings were to be held on January 23, 2019, but their results have not yet been reported.

 

A few years ago, the New Hampshire Legislature had already considered accepting bitcoin as a means of paying for taxes, but this bill did not go further than the corresponding committees.

 

Earlier, the new governor of Wyoming expressed support for blockchain projects.

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