The Block Crypto News21 minutes ago

Published on June 25, 2024 17:17 GMT+00:00edited on June 25, 2024 17:19 GMT+00:00

Florida Republican Matt Gaetz introduced a bill on Tuesday that would allow people to use bitcoin to pay their federal income taxes.

The bill would require the U.S. Secretary of the Treasury to put in place a program to allow for federal income taxes to be paid via bitcoin, Gaetz said in a statement.

“My groundbreaking legislation will modernize our tax system by allowing federal income tax to be paid with Bitcoin," Gaetz said. "By enabling taxpayers to use Bitcoin for federal tax payments, we can promote innovation, increase efficiency, and offer more flexibility to American citizens. This is a bold step toward a future where digital currencies play a vital role in our financial system, ensuring that the U.S. remains at the forefront of technological advancement.”

On the state level, …