Florida County Allows BTC and BCH in Payment of Taxes
Governmental institutions are generally insulate from the technological zeitgeist. They are immune to the ways of the high pace changing the landscape. But the announcement from Florida’s Seminole county tax collector has potential to change this perception.
Seminole County’s Tax collector Joel Greenberg has confirmed that his office is going to partner with Bitpay. The partnership aims at introducing Bitcoin Core (BTC) and Bitcoin Cash (BCH) for the purposes of tax payments. The deal will go into effect next month.
This is the first time a governmental agency is doing something like that. This deal will enable the use of Bitcoin Core (BTC) and Bitcoin Cash (BCH). They will be used in the payments for driving license, property taxes and other services that are offered by the county.
The American political system allows for such unique innovations. The antipathy towards federal intervention and the decentralized nature of provincial governance makes this partnership possible.
The situation is a win-win scenario. The payment of taxes will be smooth, efficient and without the slow processors. The payment via the credit and debit cards cost a portion of taxes to those services and governments definitely don’t like that. Crypto enthusiasts certainly don’t mind paying their taxes in bitcoin.
“The aim of my tenure is to make the customer experience faster, smarter and more efficient and to bring the government services from eighteenth to the twenty-first century and cryptocurrencies are one way to do it”, said Joel Greenberg.
Jeremy Beaudry, the head of the Bitpay claimed that the Blockchain was discovered to revolutionize the finance industry and Bitpay is making this move in the same direction. He further asserted that the government is coming to see the benefits offered by crypto assets in terms of efficiency and utility.
“In Crypto we trust” should be the motto of Florida, I guess.
Disclaimer: Koinalert’s content is only for information purpose in nature and should not be considered as investment advice. Do your own market research before investing in any cryptocurrencies. The author or publication does not hold any responsibility for your personal financial loss.