CRYPTO NEWS | The district in Florida became the first in the US, where taxes will be levied in the cryptocurrency.

in #crypto-news6 years ago
Nearly 500,000 citizens in Seminole County, Florida, will be able to pay property taxes in bitcoin or Bitcoin Cash starting next month. This is the first case in the US, when the authorities will start to accept cryptocurrency.

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Joel Greenberg, a recently elected tax collector in the County, said residents would be able to pay extra for ID or license what Bitcoin or Bitcoin cash under an agreement with BitPay.

"We live in a world where technology has provided access to on — demand services, with same-day delivery and the expectation of high-performance customer service, and we should expect the same from our government," Greenberg said, adding:

"The purpose of my tenure is to make our client faster, smarter and more efficient, and to conduct public services from the 18th century to the 21st century, and one method is to add cryptocurrencies to our payment methods."

The district hopes to save on fees, as banks and payment systems typically charge 2% to 3%, while BitPay has a fixed fee of 1% and no fee for the first million dollars processed.

In addition, BitPay offers the ability to instantly convert cryptocurrencies into dollars, so the end user, in this case the country, avoided volatility by receiving dollars.

Conflicting reviews of us citizens

Such a reaction to the surprise was universal support. Although there are some such as Maria T. Padilla from the Orlando Latino blog that says:

"Seminole residents have to pay property taxes with monopoly money, and everyone knows what it is: fake money."

Others, such as Chris Carmody, a shareholder in Florida's largest law firm, GrayRobinson, said:

"Greenberg's office is the first us government Agency to accept bitcoin for payment. Why not? Cryptocurrency, although unstable, is becoming more common. The future is today. Tax collection Bureau award for Seminole County for its adoption."

Larry Pino, a local attorney and entrepreneur, said:

"the decision to use cryptocurrency payments through BitPay reflects not only the comfort of the upcoming millennia with technology and its advanced applications, but also the benefits of cryptocurrencies in the future."

This is the first time in America and possibly, even worldwide that bitcoin and Bitcoin Cash are accepted for tax payments. This indicates a new stage, which included cryptocurrencies.


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I live in West Palm Beach, what will happen there?