Florida Working on Crypto Tax Payments

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  • Florida is planning to allow businesses to pay taxes in cryptocurrency
  • Ron DeSantis said that the state should be “willing to accept” crypto payments
  • Miami is already leading the way with Bitcoin acceptance

Florida Governor Ron DeSantis has said the state is working on allowing businesses to pay tax in cryptocurrency. At a press conference this week, DeSantis said that he had told state agencies to figure out a way to accept cryptocurrency payments if a business requests it, following in the footsteps of Miami mayor Francis Suarez who is accepting his salary in bitcoin and has pushed for the city to hold the cryptocurrency on its books,

Florida in Line for Crypto Future?

Like Suarez, DeSantis has been embracing Florida’s reputation as an emerging hub for crypto investment, with various crypto companies opening offices in the state, including Blockchain.com expanding into Miami.

DeSantis’ plans for accepting cryptocurrencies stem from a proposed program he outlined last December through which businesses could pay state fees in one of a number of digital currencies, and on Tuesday he explained that he is is still trying to see this happen:

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

DeSantis Worried Over CBDC Control

During the press conference, DeSantis showed an understanding of the principles of the crypto movement, and in particular the difference between the decentralized nature of Bitcoin and government-controlled digital currencies:

“There’s a difference between a decentralized digital cryptocurrency like a Bitcoin and what some are talking about doing at the federal level to convert U.S. dollars into basically a digital currency. 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 a digital currency.”

DeSantis is thought to be putting himself in a position to rival other Republican candidates for the 2024 presidential election, and he will certainly get the crypto-lovers vote if that happens.