Tennessee City Considers Bitcoin Tax Payments by BTC Peers


© 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.

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.

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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