Colorado residents can now pay state taxes with bitcoin and cryptocurrency –– but only with a PayPal account.
Colorado has become the first U.S. state to accept bitcoin for tax payments.
Gov. Jared Polis announced the implementation of the new payment method on Monday, at Denver Startup Week, according to a report by Axios Denver.
Citizens can use cryptocurrency to pay individual income tax, business income tax, sales and use tax, withholding tax, severance tax and excise fuel tax are eligible, per the report.