The bad news: A study released today by WalletHub ranked Illinois the worst in the nation in taxes. The good news? Soon you may be able to pay your sky-high tax bill with Bitcoin.
How exactly such a program would be implemented remains a bit of a mystery. Rumi Morales, an advisory member of the Chamber of Digital Commerce, a D.C.-based trade association representing the blockchain industry, says she likes the bill’s spirit but finds the current language lacking.
Illinois’s “Bitcoin Bill” was inspired by a similar bill submitted to the Arizona state senate in January and Georgia’s senate a month later. It was also proposed in New Hampshire in 2016, but that proposal failed due to concerns that the volatile nature of the cryptocurrency market could complicate the state’s ability to receive a payment.
