In the USA, Congressman Matt Gaetz introduced the bill allowing Federal Income Tax to be paid with Bitcoin.
Florida's representative introduced a bill that would amend the Internal Revenue Code of 1986 to allow taxpayers to use Bitcoin to pay taxes.
The proposed amendment authorizes the Treasury to “develop and implement a method that will allow any tax imposed on an individual to be paid in Bitcoin” under the stated title. This move could be a game-changer in increasing the adoption of cryptocurrencies in the United States.
This innovative legislation is not just a minor adjustment to the existing Treasury law. It represents a significant shift in the government's approach to digital assets.
*This is not investment advice.