UK Parliament proposes payment of taxes with bitcoin

The agency proposes that the cryptographic asset be used as an alternative for the payment of local tax obligations

According to a report published by local media, conservative members of the UK Parliament have been open to the use of bitcoin as a means of paying local taxes.

On December 10th, the conservative Eddie Hughes showed his enthusiasm for cryptocurrencies, blockchain technology and its benefits in the financial apparatus of nations. He indicated that block technology receives a lot of attention “and members of parliament should understand it”.

According to the parliamentarian, there are no major obstacles to adopting bitcoin as a means of payment for municipal taxes and other tax obligations in the United Kingdom.

Recently, London hosted a conference on cryptocurrencies. Gillian Dorner, deputy director of financial services at Britain’s Ministry of Finance, has pointed out that the country can “take the time to analyze this in a little more depth and make sure that we adopt a proportionate approach.”

Dorner was referring to the crypto universe, the blockchain and a regulatory framework necessary to adapt the financial system to the new times.


Source: Cointelegraph

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