Investing.com - A bill allowing cresidents to pay state income taxes in cryptocurrencies has cleared another legislative hurdle.
The bill, which was approved by the state senate last month, has been unanimously approved by the house of representatives' ways and means committee,
Under the bill, the state would accept cryptocurrencies as a payment option starting in 2020. The payment would be converted to dollars within 24 hours to remove concerns about price volatility.
The bill will be voted on as early as this week by the rules committee, where approval is also expected, according a spokesman for the legislation's co-sponsor.
Similar bills were recently introduced in the Georgia and Illinois state legislatures.
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