Australian Mayor Proposes Paying Taxes in Cryptocurrency
Aussie Mayor Tom Tate has suggested paying taxes in cryptocurrency as experts caution that the move could necessitate further research and a risk-measured policy. Tom Tate, the Mayor of Gold Coast metropolitan, has suggested that Australians could pay their council rates, otherwise known as local property taxes, in cryptocurrency.
According to a local news report, Mayor Tate sees crypto payments as a way to communicate Australia’s innovative virtue, effectively attracting young people. As for cryptocurrency’s inherent volatility, Tate says it’s “not that bad.”. Mayor Horacio Rodríguez Larreta of Buenos Aires, Argentina, suggested the same approach in late April. In late March, Rio de Janeiro announced a similar plan, aiming to become the first Brazilian city to accept Bitcoin payments for taxes.
Source
@CryptoWorldAnalysis
