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BREAKING: US Introduces Bill Allowing Payment of Federal Income Tax with Bitcoin
BREAKING: US Introduces Bill Allowing Payment of Federal Income Tax with Bitcoin
Author:
Mete Demiralp
25.06.2024 – 15:32
Update:
5 seconds ago
0
Congressman Matt Gaetz has introduced a bill in the United States that would permit the payment of Federal Income Tax using Bitcoin.
The representative from Florida has put forward a bill that seeks to modify the Internal Revenue Code of 1986 to enable taxpayers to utilize Bitcoin for tax payments.
The proposed adjustment grants the Treasury the authority to develop and implement a system that allows individuals to pay their taxes in Bitcoin. This potential shift could significantly enhance the adoption of cryptocurrencies across the United States.
This groundbreaking legislation is not just a minor tweak to the existing Treasury law. It signifies a substantial change in the government’s stance on digital assets.
*This is not investment advice.
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