City in Tennessee set to Accept Bitcoin for Taxes

Countries and cities around the world have continuously looked at how they can incorporate crypto into their system. The latest is the city of Jackson, Tennessee in the United States whose Mayor, Scott Conger, declared that the city was looking into the possibility of accepting the leading digital coin as a payment option for its property tax.

According to the Mayor, the city’s blockchain task force has been saddled with the responsibility of researching how Bitcoin can be accepted as a viable payment method for property taxes. Not only that, the task force would also be exploring how employees could buy small amounts of BTC over a periodic time interval. This method, known as the dollar-cost average Bitcoin, has been widely regarded as the best strategy to get hold of the coin.

Conger, who has been vocal about his support for the flagship crypto asset recently took to Twitter to call out the current devaluation of the US dollar and the high inflation rate battling the economy. According to his tweet, the only solution to this quagmire is “Bitcoin.”

All of this is in line with his earlier commitment towards making Jackson a hub for crypto. Earlier this year, the Mayor had announced that the city would actively be looking at how it could pay its workers in crypto, at the same time, they would also be exploring how Bitcoin mining operations could be integrated into the city and also adding the asset to its balance sheet. 

Not only that, he also revealed that the city would explore the possibility of payments in other digital assets like Ether (ETH) and Litecoin (LTC).

However, his crypto-related activities and plans are only following in the footsteps of Miami whose Mayor, Francis Suarez, has been at the forefront of pushing Bitcoin adoption and acceptance as a viable payment option for taxes and salaries.

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