Tags: florida governor ron desantis | cryptocurrency taxes | state fees

Florida May Allow Businesses to Pay Taxes in Crypto, DeSantis Says

DeSantis
Florida Gov. Ron DeSantis speaks at the Conservative Political Action Conference (CPAC) Thursday, Feb. 24, 2022, in Orlando, Fla. (AP)

By    |   Tuesday, 22 March 2022 04:56 PM EDT

Governor Ron DeSantis, R, Fla., announced Tuesday the state is considering a plan to let businesses pay taxes in cryptocurrency. The idea comes as DeSantis, as well as both national and Florida Republicans, have increasingly embraced the use of cryptocurrency.

“I’ve told 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 said.

Governor DeSantis’ announcement comes as the state of Florida has been seen as one of the top hubs for cryptocurrency in the United States. The city of Miami has particularly become known as a major city for crypto—with top conferences like Miami NFT [Non-Fungible Token] Week, noteworthy real estate transactions taking place in cryptocurrency, and Mayor Francis Suarez choosing to take his salary in Bitcoin. This has led to Miami being known by some as the “crypto capital of America.”

DeSantis differentiated between decentralized currencies and government -ontrolled digital currencies, which President Biden has directed the federal government to begin exploring in early March.

“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,” DeSantis said. “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 able to shut off access to purchasing certain goods. We’d be in uncharted territory.”

DeSantis’ endorsement of allowing Florida businesses to pay tax in crypto comes after another Florida proposal for cryptocurrency and businesses from a few months ago, which would allow companies to pay state fees in cryptocurrency, with DeSantis saying in December: “We want to make sure that the state government is crypto-friendly.”

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StreetTalk
Governor Ron DeSantis, R, Fla., announced Tuesday the state is considering a plan to let businesses pay taxes in cryptocurrency. The idea comes as DeSantis, as well as both national and Florida Republicans, have increasingly embraced the use of cryptocurrency.
florida governor ron desantis, cryptocurrency taxes, state fees
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2022-56-22
Tuesday, 22 March 2022 04:56 PM
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