|May 17, 2018 03:15 AM||By: Jinia Shawdagor | 9887 Views|
It may be supposed to be small to some, but the government officials were operating it could be considered first of their time when it comes to the willingness to try new ideas.
We’re talking regarding Seminole County in Florida, where residents will quickly be allowed to pay for a broad array of government services with Bitcoin.
The county’s tax collector, Joel Greenberg, published this week that his office is working to allow people to pay for division services including the crypto beginning next month. Services involve covering fees for identification cards and license plates.
Citizens will also be responsible for paying their property tax bills with Bitcoin.
One of the principal concerns compared to Bitcoin, as you know, is its volatility. For governments, the risk is a very important concern because if Bitcoin’s price slips, governments could end up not getting the full amount of whatever they are getting from citizens.
This could be harmful to their budgets.
To address this issue, Seminole County is operating with BitPay. To a local media outlet, BitPay’s head of compliance stated the following:
“The county tax office won’t face any volatility risk. There’s no risk to the taxpayer,” stated Greenberg, who has often raised eyebrows since his 2016 election by moves including encouraging certain employees with concealed-weapons permits to carry a firearm openly as a security measure. “Blockchain technology is the future of the whole financial industry.”
Seminole will meet at least one other government in the U.S. in providing for Bitcoin payments.
Some news channel reported already regarding Arizona lawmakers drafting legislation that would enable citizens to satisfy their tax obligations with Bitcoin.
The bill is currently sitting on the governor’s desk, helping to be signed into law. If he does sign it, which he is supposed to do, it will make the western state the first in the U.S. to recognize for such crypto-related concessions.