Portsmouth embraces Bitcoin payments for city bills

In an effort to clasp virtual money, the metropolis of Portsmouth, New Hampshire, volition let residents to wage their bills successful Bitcoin (BTC) and different cryptocurrencies. Deaglan McEachern, the city's mayor, projected the thought to metropolis officials, who consciousness it volition supply residents with much outgo choices.

As per a section news report from Seacoastonline connected March 23, Mayor McEachern said that "there are waves of caller things that volition impact america successful presumption of our aboriginal that usage the benignant of exertion utilized successful cryptocurrency." He went connected to say:

"I privation to marque definite Portsmouth is not waiting astir to spot however this is going to impact america successful the aboriginal due to the fact that it's already affecting us."

McEachern said the City Hall has learned a batch much astir cryptocurrencies and blockchains, arsenic good arsenic however to utilize them for improved metropolis services. He besides mentioned that immoderate cryptocurrency payments would beryllium instantly converted into U.S. dollars truthful that the alteration would person nary interaction connected the city's monetary practices.

Governments' involvement successful cryptocurrencies is connected the rise, arsenic evidenced by this project. Miami and New York, for example, person been affable to cryptocurrency adoption. As reported by Cointelegraph successful mid-February, Colorado politician Jared Polis said the authorities authorities volition allow residents to wage taxes successful crypto as aboriginal arsenic summertime 2022.

Related: US lawmaker pushes for state-level regulations connected stablecoins astatine proceeding connected integer assets

United States lawmakers person projected handling immoderate imaginable regulatory uncertainty astir integer assets connected a authorities level alternatively than waiting for a legislature framework. Back successful February, a Tennessee House of Representatives subordinate projected allowing the authorities to invest successful cryptocurrency and nonfungible tokens.