BTC Peers
Published Jul 17, 2021 02:13AM ET
Updated Jul 17, 2021 02:30AM ET
Tennessee City considers Bitcoin tax payments
The mayor of Jackson, the eighth-largest city in the state of Tennessee, disclosed on Friday that plans are on the way to allow citizens to pay their property taxes in Bitcoin.
In a series of tweets, Mayor Scott Conger said that a blockchain task force is working towards making the flagship currency a payment option for taxes. Furthermore, the task force wants employees to dollar-cost average Bitcoin.
Our blockchain task force is looking into how the @CityofJacksonTN can accept property tax payments in #bitcoin and allow our employees to DCA in Bitcoin.
— Mayor Scott Conger (@MayorConger) July 16, 2021
The mayor is determined to turn Jackson into a major cryptocurrency hub. Back in April, Conger announced that a blockchain task force had been set up for the city. He also noted the incoming industrial revolution that could be ushered in by Bitcoin adoption.
I’m taking pointers from @FrancisSuarez In the coming weeks I will be forming a Block Chain Task Force to explore how to best position the @CityofJacksonTN for the future.#Crypto #cryptocurrency #Bitcoin— Mayor Scott Conger (@MayorConger) April 8, 2021
Meanwhile, in a separate tweet, Conger raised concerns over dollar debasement. He said:
Why do we accept inflation? Why don’t we demand more from our federal government? 6.3% in 2 years. 172.8% in my lifetime. Every year our dollar is worthless.Conger is arguably emulating the steps of Francis Suarez, the mayor of Miami, who pushed a similar proposal earlier in the year.
Speaking of inflation, in a recent appearance on CNBC, Treasury Secretary Janet Yellen said that there might still be several months of “rapid inflation.”
Continue reading on BTC Peers
Written By: BTC Peers
Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.