Colorado DMV Accepts Bitcoin for License, Registration

Local TV station Denver 7 says that people in Colorado can now use Bitcoin (BTC) to pay for online services through the DMV. PayPal can be used to pay for the connection with cryptocurrency.

Users can renew their driver’s license, car registration, and other DMV services by choosing their digital currency. PayPal will then convert that digital currency to dollars and send the money to the DMV.

Senior Director of the DMV, Electra Bustle, said, “At the DMV, we’re always looking for ways to serve Coloradans better and use technology to do so.”

When you pay with cryptocurrency, you have to pay a $1 service fee plus 1.83% of the total, on top of any PayPal fees you might have to pay. Currently, the Colorado DMV only takes Bitcoin and other cryptocurrencies through PayPal.

The move is in line with Colorado’s attitude toward the use of cryptocurrencies. It builds on the state’s policy of accepting cryptocurrency payments for taxes and fees starting in 2020. The Colorado Digital Token Act also lets some cryptocurrencies get out of being treated as stocks.

If the DMV pilot works, it could open the door for crypto to be used in more Colorado departments. There are still problems with fiat currency control and security regarding mass adoption.

For now, paying for a driver’s license with cryptocurrency shows that Colorado is a leader in practically using cryptocurrencies.