Colorado’s experiment with crypto tax payments shows limited adoption
Only 0.0005% of Colorado’s $11 billion in tax revenue has been paid using cryptocurrency since the state introduced the option in 2022.
Since Colorado began accepting cryptocurrency for tax payments in September 2022, the amount paid via crypto has been minimal. Out of the $11 billion in income tax collected since 2022, just 0.0005%, or roughly $57,000, has been paid using digital assets.
The state initially saw eight crypto payments totalling $16,426 in 2022, which rose to 22 payments amounting to $23,241 in 2023. However, the number declined again in 2024 to $17,544 across 48 payments.
Governor Jared Polis’ initiative allows taxpayers to use PayPal’s Crypto Hub, converting their crypto…
