© Reuters.City of Tennessee considers paying taxes in Bitcoin
The mayor of Jackson, Tennessee’s eighth-largest city, revealed on Friday that a plan is being developed to allow citizens in.
In a series of tweets, Mayor Scott Conger stated that a blockchain working group is working to make the flagship currency a tax payment option. In addition, the working group wants employees to calculate the average Bitcoin cost in U.S. dollars.
Our blockchain working group is studying how @CityofJacksonTN accepts #bitcoin’s property tax payment and allows our employees to use Bitcoin for DCA.
— Mayor Scott Conger (@MayorConger) July 16, 2021
The mayor is determined to turn Jackson into a major cryptocurrency center. As early as April, Conger announced the establishment of a blockchain working group for the city. He also pointed out that the adoption of Bitcoin may usher in the upcoming industrial revolution.
I am accepting the advice of @FrancisSuarez. In the next few weeks, I will form a blockchain working group to explore how to best position @CityofJacksonTN for the future. #Crypto #cryptocurrency #Bitcoin
— Mayor Scott Conger (@MayorConger), April 8, 2021
At the same time, Conger expressed concerns about the depreciation of the U.S. dollar in another tweet. He says:
Why do we accept inflation? Why don’t we make more demands on the federal government? 6.3% for 2 years. My lifetime is 172.8%. Every year our dollars are worthless.
Conger can be said to be following the example of Miami Mayor Francis Suarez, who made a similar proposal earlier this year.
Speaking of inflation, during a recent CNBC appearance, Treasury Secretary Janet Yellen said that there may be months of “rapid inflation.”
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