California Bill Would Legalize Crypto for Tax Payments From Cannabis-Related Businesses

in #cryptocurrency5 years ago

 Lawmakers in the United States state of California have introduced a bill to allow cannabis-related business to pay fees and taxes in stablecoins. The bill was introduced by the California State Assembly on Feb. 21.
Assembly Bill 953 would allow the state, city and county tax offices in California to accept stablecoins — cryptocurrency pegged to a physical asset or a fiat currency — from cannabis-related companies seeking to pay their excise or cultivation taxes, with effect from Jan. 1, 2020...

Full article: https://cointelegraph.com/news/california-bill-would-legalize-crypto-for-tax-payments-from-cannabis-related-businesses


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