Another U.S. city has set up plans to allow payments of taxes in Bitcoin (BTC)

By: Ali Raza
Ali Raza
Ali plays a key role in the cryptocurrency news team. He loves travelling during his spare time and enjoys… read more.
on Jul 16, 2021
  • Jackson city in Tennessee has set up plans to allow tax payments in Bitcoin.
  • The city’s mayor also wants to enable the adoption of more crypto assets like ETH and LTC.
  • Other places like Wyoming and Texas have also set plans to enable Bitcoin adoption in their region.

United State’s city of Jackson, Tennessee, could be the next city in the US to completely adopt Bitcoin for payments. The city has made a major move to enable residents to pay their property taxes in Bitcoin (BTC/USD).  

Scott Conger, Jackson’s Mayor announced on Thursday that the city may start allowing residents to pay their property taxes in Bitcoin after a successful study on its potentials. He said a task force has already been set up for such a purpose.

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The task force, according to the announcement, will also study the feasibility of allowing employees to buy smaller amounts of Bitcoin over regular time intervals. Multiple studies have confirmed that the best way to accumulate Bitcoin is via dollar-cost averaging Bitcoin, and the city of Jackson wants to allow employees to follow this route. Jackson is the eighth-largest city in the state of Tennessee.

Conger clamors for serious crypto adoption

The recent debate on the U.S. dollar devaluation and inflation caught the attention of Conger, who blasted the proposal and suggested that Bitcoin could be the only way out.

Every year our dollar is worthless. There is no rebound. There is only 1 fix for this. #Bitcoin”, he stated on Twitter.

Conger had, in April, announced a broader plan the city’s administrators have for cryptocurrencies.

The city has been working seriously to adopt cryptocurrencies for the payment of employees. It recently added BTC to the city’s balance sheet and adopted Bitcoin mining operations. Conger indicated that the city is looking to allow payment in several other crypto assets such as Litecoin (LTC/USD) and Ethereum (ETH/USD).

More regions register interest in Bitcoin

Jackson’s Bitcoin adoption plan is coming after Miami’s Mayor Francis Suarez pushed for the use of the crypto asset for tax and salary payments. The major is a serious crypto enthusiast and has been clamoring for the adoption of Bitcoin and other cryptocurrencies in the state.

Wyoming and Texas are other regions trying to set themselves up as major crypto hubs in the country.

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