In an effort to embrace digital cash, the town of Portsmouth, New Hampshire, will permit residents to pay their payments in Bitcoin (BTC) and different cryptocurrencies. Deaglan McEachern, the town’s mayor, proposed the concept to metropolis officers, who really feel it’s going to present residents with extra fee selections.
As per a neighborhood information report from Seacoastonline on March 23, Mayor McEachern said that “there are waves of recent issues that may have an effect on us when it comes to our future that use the kind of expertise utilized in cryptocurrency.” He went on to say:
“I need to make sure that Portsmouth is just not ready round to see how that is going to have an effect on us sooner or later as a result of it is already affecting us.”
McEachern stated the Metropolis Corridor has realized much more about cryptocurrencies and blockchains, in addition to how one can make the most of them for improved metropolis providers. He additionally talked about that any cryptocurrency funds could be instantly transformed into U.S. {dollars} in order that the change would haven’t any influence on the town’s financial practices.
Governments’ curiosity in cryptocurrencies is on the rise, as evidenced by this challenge. Miami and New York, for instance, have been pleasant to cryptocurrency adoption. As reported by Cointelegraph in mid-February, Colorado governor Jared Polis stated the state authorities will permit residents to pay taxes in crypto as early as summer time 2022.
Associated: US lawmaker pushes for state-level rules on stablecoins at listening to on digital belongings
United States lawmakers have proposed dealing with any potential regulatory uncertainty round digital belongings on a state stage relatively than ready for a congress framework. Again in February, a Tennessee Home of Representatives member proposed permitting the state to put money into cryptocurrency and nonfungible tokens.
