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Sunshine State planning to Accept Bitcoin for Tax: Report

Sunshine State planning to Accept Bitcoin for Tax: Report 6

DeSantis, Florida Governor, said that Sunshine State Working on a framework to accept Bitcoin to allow the citizens & businesses to pay Tax Payments.

Bitcoin has already completed its 13+ years of age in the internet world. Now in this situation, no one can say that Bitcoin Transactions are risky or bitcoin is based on unreliable technology. In the present time, Bitcoin payment services are allowed at a large scale, where people are paying with the help of the Bitcoin network. An example of the same thing can be seen in El Salvador.

According to a Bloomberg report, Governor Ron DeSantis of Florida stated that they are currently working on its system for the Bitcoin lover and users to allow them to pay tax payments in Bitcoin. 

“I’ve told the state agencies to figure out ways, where if a business wants to pay tax in cryptocurrency to Florida, we should be willing to accept that. We’re working through that.”

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DeSantis also dragged the topic of the US Joe Biden administration’ “Executive Order on Cryptocurrencies” and said that he is worried about it, however, it is based on the Research on Central Bank Digital Currency (CBDCs) issuance in the US. 

Governor said that government centralized Central Bank Digital Currency may pose a threat to the freedom of financial system because decentralization is a different thing in the case of cryptocurrencies like Bitcoin.

“There’s a difference between a decentralized digital cryptocurrency like Bitcoin and what some are talking about doing at the federal level to convert U.S. dollars into basically a digital currency.”

DeSantis claimed that here nothing is clear about the centralization of CBDC and it will be a big issue because if it will have centralized power to control the purchase ability of some items with CBDC. 

Earlier, last year in December, DeSantis introduced the Freedom First Budget, which was aimed to make Florida a crypto-friendly State with a $700,000 fund by using it in programs.

Read also: Since 1 April Thai Crypto companies restricted to provide crypto payment services

Sunshine State planning to Accept Bitcoin for Tax: Report


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