Colorado Introduces Online Payments With Crypto at the DMV
Colorado’s Department of Motor Vehicles (DMV) now allows online payments with cryptocurrency through Paypal. Here are the key points:
- People in Colorado can use cryptocurrency to pay for DMV services online.
- Payments made with crypto will be directed to Paypal and converted to U.S. dollars.
- A service fee of $1 plus 1.83% of the DMV total will be applicable.
- Colorado has been open to cryptocurrency adoption since 2020 when it started accepting crypto for state taxes and fees.
- The Colorado Digital Token Act, passed in the previous year, allows certain cryptocurrencies to have securities exemptions.
Hot Take
Colorado’s DMV embracing cryptocurrency payments demonstrates the state’s progressive approach to technology and innovation. By accepting crypto, the DMV provides a convenient payment option for its customers. This move also aligns with Colorado’s broader efforts to support cryptocurrency adoption, as evidenced by the acceptance of crypto for state taxes and the passage of the Colorado Digital Token Act.
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