Can I offer a cryptocurrency as a form of payment without violating financial regulations in Alabama? What are the requirements?

According to the Alabama Administrative Code, taxpayers who are required to make payments for tax types using EFT must initiate the transaction so that the amount due is deposited as immediately available funds to the State of Alabama’s bank account on or before the due date under the applicable revenue law. However, the code does not specifically mention cryptocurrency as a form of payment. It is recommended that you consult with a legal professional or the Alabama Department of Revenue to determine if offering cryptocurrency as a form of payment would violate any financial regulations in Alabama. ^[1.2]

Source(s):

• [1.2] Payment Procedures - General Provisions

Jurisdiction

Alabama

• General