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BREAKING: Legislation Introduced to Allow Federal Income Tax Payments in Bitcoin in the United States
Author:
Mete Demiralp
25.06.2024 – 15:32
Update:
5 seconds ago
0
A new bill has been introduced by Congressman Matt Gaetz in the United States, proposing the option to pay Federal Income Tax with Bitcoin.
The bill, if passed, would bring changes to the Internal Revenue Code of 1986, allowing taxpayers to utilize Bitcoin as a method of tax payment.
Under the proposed amendment, the Treasury would be empowered to establish a system that permits individuals to settle their tax obligations using Bitcoin. This potential move has the capacity to significantly impact the adoption of cryptocurrencies within the United States.
This groundbreaking legislation marks a departure from the traditional approach of the government towards digital assets and signifies a major step forward in embracing the potential of cryptocurrencies.
*This is not financial advice.
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