Jared Polis, the governor of the US state of Colorado, announced that despite the decline in the cryptocurrency market, there is no change in the state's plans to accept tax payments with Bitcoin and other cryptocurrencies.

Speaking at the "National Governors Association" meeting on Saturday, Jared Polis stated that in its plan, official institutions will immediately convert payments made with cryptocurrencies into dollars and will not hold any crypto money for a certain period of time. The Governor Polis expressed his thoughts as follows:

   “The government will not hold crypto assets. Instead, payments made will be instantly converted into dollars upon the completion of the transaction. The US government, positive or negative, is not interested in such speculative business. Our goal is simply to use cryptocurrencies as a payment method with a currency-like logic. "

colorado jared polis

Jared Polis stated that the dollar also experienced a fluctuation in its value against foreign currencies and claimed that his proposal was similar to the fact that international companies receive payments in foreign currencies.

These days, we hear more and more that public institutions in the USA are starting to take various steps regarding Bitcoin. A short while ago, there were developments in this area in the states of Texas and Arizona. While some states are trying to make Bitcoin the official currency, others, like Colorado, want to use cryptocurrencies only as a tool for paying taxes. However, due to the volatile nature of cryptocurrencies, some experts are distant to the subject.