Share this article
Bitcoin Tax Payments Bill Advances in Arizona
Lawmakers in Arizona have advanced a proposal that would allow residents in the state to pay their taxes in bitcoin.
By Stan Higgins
Updated Sep 13, 2021, 7:30 a.m. Published Jan 31, 2018, 6:00 p.m.
Lawmakers in Arizona have advanced a proposal that would allow residents in the state to pay their taxes in bitcoin.
CoinDesk reported earlier this month that a proposed law before the Arizona legislature would, if approved, let taxpayers make their payments in bitcoin or other cryptocurrencies. The bill was submitted on Jan. 9.
STORY CONTINUES BELOW
Don't miss another story.Subscribe to the Crypto Daybook Americas Newsletter today. See all newsletters
"The Department [of Revenue] shall convert cryptocurrency payments to United States dollars at the prevailing rate within twenty-four hours after receipt and shall credit the taxpayer's account with the converted dollar amount," the text of the bill reads.
show that last week, the Arizona Senate Finance Committee had given the thumbs-up to the measure by a 4-3 margin. The bill remains before the chamber's Rules Committee, though the endorsement of the Finance Committee – which encouraged that the bill is passed – increases the likelihood that the measure will succeed.
Speaking with local media outlet ABC15, state senator and bill author Warren Petersen remarked that it came as a result of input and requests from his constituents.
"Since I've started to work on this, I've been surprised how many people are holders of cryptocurrency, so probably more than you'd suspect," he told the outlet.
Image via Shutterstock
More For You
KuCoin captured a record share of centralised exchange volume in 2025, with more than $1.25tn traded as its volumes grew faster than the wider crypto market.
What to know:
- KuCoin recorded over $1.25 trillion in total trading volume in 2025, equivalent to an average of roughly $114 billion per month, marking its strongest year on record.
- This performance translated into an all-time high share of centralised exchange volume, as KuCoin’s activity expanded faster than aggregate CEX volumes, which slowed during periods of lower market volatility.
- Spot and derivatives volumes were evenly split, each exceeding $500 billion for the year, signalling broad-based usage rather than reliance on a single product line.
- Altcoins accounted for the majority of trading activity, reinforcing KuCoin’s role as a primary liquidity venue beyond BTC and ETH at a time when majors saw more muted turnover.
- Even as overall crypto volumes softened mid-year, KuCoin maintained elevated baseline activity, indicating structurally higher user engagement rather than short-lived volume spikes.
More For You
Bitcoin eyes longest daily winning streak in 3 months
Bitcoin rose over 1% during Monday's Asian trading session, marking a potential five-day winning streak.
What to know:
- Bitcoin rose over 1% during Monday's Asian trading session, marking a potential five-day winning streak.
- The broader crypto market, including major cryptocurrencies like XRP, solana, and ether, also saw gains of up to 1%.
- Tax-loss selling has subsided, one analyst said explaining the upswing, while others attributed the uptick to haven demand.
Top Stories
