The city of Portsmouth in New Hampshire will allow residents to pay their bill in Bitcoin (BTC), and other cryptocurrency. Deaglan MacEachern, city mayor, suggested the idea to officials. They feel that it will give residents more payment options.
According to a Seacoastonline report on March 23, Mayor McEachern stated that there are “waves of new things” that will impact us regarding our future if we use cryptocurrency technology. He continued by saying:
“I want Portsmouth to know that it isn’t waiting to see how this will affect us in the future. It is already affecting us.”
McEachern stated that the City Hall has gained a lot of knowledge about blockchains and cryptocurrencies, and how to use them for better city services. McEachern also stated that any cryptocurrency payments would immediately be converted to U.S. Dollars so that it would not have an impact on the city’s monetary practices.
This project shows that governments are increasingly interested in cryptocurrency. New York and Miami, for instance, are open to cryptocurrency adoption. According to Cointelegraph, Colorado Governor Jared Polis stated that residents will be able to pay their taxes in cryptocurrency as soon as summer 2022.
Related:A US lawmaker presses for state-level regulation of stablecoins during an hearing on digital assets
The United States has proposed that any regulatory uncertainty surrounding digital assets be dealt with at the state level, rather than waiting for legislation from Congress. In February, a member of the Tennessee House of Representatives proposed that the state could invest in cryptocurrency and other non-fungible tokens.
Eileen Wilson –Technology and Energy
My Name is Eileen Wilson with more than 5 years of experience in the Stock market industry, I am energetic about Technology news, started my career as an author then, later climbing my way up towards success into senior positions. I can consider myself as the backbone behind the success and growth of topmagazinewire.com with a dream to expand the reach out of the industry on a global scale. I am also a contributor and an editor of the Technology and Energy category. I experienced a critical analysis of companies and extracted the most noteworthy information for our vibrant investor network.