We Could Soon Be Paying Our Taxes with BTC

TL;DR

• Earlier this week, a Bill was introduced to allow US residents to pay their federal tax payments in BTC (which tells a larger, more positive story).

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Remember when Uber first came out?

It started as a high end service that no one really used, and which operated in the ‘grey area’ of the law.

Now, 15 or so years later, many people in the world couldn’t live without it.

That’s the kind of transition Bitcoin is starting to see — and this latest proposed Bill backs that up.

Earlier this week, Republican House Representative, Matt Gaetz, introduced a Bill to allow US residents to pay their federal tax payments using BTC.

Now, there’s still a long way to go before the Bill is passed…

But! We’re still excited about it — here’s why:

Firstly, it represents a move from rejection of crypto → acceptance of crypto (well, at least of BTC).

It also opens up the conversation for the House to battle it out.

Whether it passes or not doesn’t really matter right now – the important part is that it’s being discussed and debated.

And — if we can dream for a second — if this Bill does get passed?

It would not only result in more adoption for crypto, but more clear legislation around BTC payments.

Just as the journey to mass adoption for Uber was long and hard, so far mass adoption for BTC has been even tougher.

But this is a small step in the right direction!