AZ SB1127

Allows state agencies to enter into agreements with cryptocurrency issuers to accept cryptocurrency (Bitcoin, Ethereum, Litecoin, Bitcoin Cash) as payment for fines, penalties, taxes, fees, and other amounts owed to the state.

Agreements between state agencies and cryptocurrency issuers must specify terms for accepting or declining cryptocurrency payments and establish whether the state or payer covers cryptocurrency transaction service fees.

Payers using cryptocurrency remain liable for the full payment amount plus interest and penalties until the state agency receives final payment from the cryptocurrency issuer.

Permits the Department of Revenue to accept cryptocurrency for state tax remittances under a section 35-156 agreement in addition to existing payment methods (checks, drafts, electronic funds transfer, cash).

Effective December 31, 2022.