Washington state passed a few other bills in the following years which could be aimed at improving the State Bill 5031. These actions did not lead to Washington state Bitcoin law like in El Salvador with recognizing bitcoin as a legal tender. However, they provided more clarity on the blockchain-related topics.
Taking into account the demanding money transmitter license requirements, crypto exchanges with corresponding licenses could be one of the most secure, and reliable places to purchase bitcoin, and other cryptocurrencies. For example, CEX.IO has a money transmitter license in Washington and many other U.S. states, empowering U.S. customers to buy Ethereum, and sell bitcoin via multiple options.
In addition to using a regulated bitcoin exchange, you can also buy bitcoin locally by finding a bitcoin ATM in Washington state. According to Bitcoin ATM maps, they can be found in Seattle, Tacoma, Spokane, and other major cities in Washington. However, if you decide to use this option, you also need a secure bitcoin wallet where you can store purchased bitcoins.
Seattle-based startup Coinme, meanwhile, announced that it has brought its business to Florida with the launch of more than 300 bitcoin-enabled kiosks at select grocery outlets across the state. The company, which partners with Coinstar, has nearly 6,000 machines in 45 states.
Even at state agencies tasked with environmental protections beyond emissions, such as water quality or e-waste disposal, spokespeople echoed a common refrain that they have little or no specific insight into the impacts of bitcoin mining.
The gravity and scale of the task ahead are why statewide policymakers are trying to strike a balance between quashing the crypto mining industry and throwing open the doors for more energy to be diverted to bitcoin miners.
With over 30 million customers, Coinbase is the easiest and most preferred method for buying bitcoin in Washington. The verification process on Coinbase is simple, secure and streamlined. If you need bitcoins fast, customers in Washington are able to make instant purchases with a debit card or credit card which incur fees of 3.99% or instant purchases with bank deposits which incur fees of only 1.49%.
The Washington Department of Revenue (DOR) has issued a statement regarding the taxability of bitcoin-related activities. If a seller accepts bitcoin as payment for goods or services, the bitcoin is treated as consideration for the purchase. If a seller immediately converts bitcoin received from a buyer to U.S. dollars, tax is computed on the converted amount. Sellers are required to maintain documentation, including the following:
To help investors navigate the world of buying and selling bitcoin, ethereum and other cryptocurrencies, Forbes Digital Assets analyzed 60 of the largest crypto exchanges ranking them according to ten different criteria (see Ranking Methodology below) ranging from cyber-security provisions and trading fees to institutional backing and regulatory compliance, which we weighted more heavily. At the start of January, the 60 exchanges on our list were generating more than $100 billion in trading volume per day, representing the majority of crypto trading volume globally.
Getting bitcoins in Washington is not an easy task as not all popular crypto exchanges are available to Washington citizens. This is a current list of bitcoin exchanges that allow users from Washington to buy crypto. They all support buying crypto with credit/debit cards but some of them offer other payment methods as well. 781b155fdc