Seminole County To Accept Crypto For Tax Payments
Joel M. Greenberg, the Seminole County, Florida, tax collector, made an announcement on May 14 that the county will start accepting cryptocurrency as payment for various services as early as this summer in order to eliminate fees and improve payment’s accuracy and efficiency.
In accordance with a press release, the county will begin accepting Bitcoin (BTC) and Bitcoin Cash (BCH) for service payment, including property taxes, driver license, and ID card fees, as well as tags and titles. The Seminole County Tax Collector will be employing blockchain payments company BitPay, which will allow the county to receive settlement the next business day directly to its bank account in US dollars., reports say.
Greenberg made a statement on the initiative:
- “We live in a world where technology has made access to services on demand, with same-day delivery and the expectation of highly efficient customer service and we should expect the same from our government. The aim of my tenure in office is to make our customer experience faster, smarter, and more efficient, and to bring government services from the 18th century into the 21st century and one way is the addition of cryptocurrency to our payment options.”
By doing so, the county hopes to remove the risks associated with the use of credit cards, such as fraud and identity theft. According to BitPay, Seminole County is the first government body to utilize the company’s services.
Earlier this month, a bill in Arizona was set to allow residents of the state to pay taxes using crypto, but it was later amended. The amendment removed the state’s obligation to accept crypto as payment. Instead, the bill simply requires the Department of Revenue to research and study whether taxpayers should be allowed to make tax payments in crypto.