Residents of one of the Canadian Cities can now Pay Taxes with Cryptocurrency
As it became known recently, the residents of Canadian town Innisfil which is located near the capital of the state - Toronto, are allowed to pay their taxes in Bitcoin.
“Its council voted late Tuesday in favor of the one-year cryptocurrency pilot project, in partnership with a Toronto company”, said in the statement.
This town residents will be able to pay taxes in Bitcoins through a digital wallet which will convert the cryptocurrency to Canadian dollars and transfer the payment to the town.
Other forms of cryptocurrency may follow, such as Ethereum, Litecoin, Bitcoin Cash and Ripple”, claims CBC News.
As mayor Lynn Dollin believes, such an introduction shows that Innisfil is moving towards innovation and is ready for the future. It should be noted that this is not a big city, its population totals only 36 thousands of people. The Innisfil government has been famous for its loyal policies to modern technology. For example, earlier the local authorities adopted a law according to which the residents began to reimburse part of Uber ride cost.   We want to remind you: Subscribe to The Coin Shark news in Facebook: