Austin Mayor Thinks Bitcoin Should Be Accepted For Tax Payments

Steve Adler, the Austin Mayor thinks that Bitcoin should be accepted for tax payments but also payments for other fees and penalties because it can improve the city’s economy and well-being so let’s read furhter in our latest bitcoin news today.

Steve Adler, the Austin Mayor proposed two initiatives to make the city a global leader in the crypto space. The first includes the promotion of blockchain technology and Web3 while the second one was oriented towards adopting Bitcoin as a payment method. According to his recent statements, Adler seeks to utilize some new technologies and innovations to improve the governemnt processes and serve the people of Austin better. As such, he has turned the focus towards blockchain technology and crypto.

Apart from being the backbone of the crypto industry, Blockchain has plenty of other use cases for both the private and the public sectors. In his view, the technology can be employed to create innovative solutions for people that have economic hardships or are introduced to other individuals that struggle with social problems.

It’s worth noting that there are thousands of homeless people in Austin and most of them are with some disabilities. Adler believes that the city can dive into the Web3 universe as well so engaging with the blockchain technology can enable these people to develop their own supply chain management and enhance the presence in arts and media sectors as well:

“The City Manager is directed to ensure the City is helping to create a 37 environment within city government and in the community generally that supports 38 the creation and development of new technologies, including without limitation 39 blockchain and other Web3 related technologies, protocols, and applications.”

The mayor touched upon bitcoin as well and praised its merits, saying that it is a store of value and provides enhanced security. Austin should also follow Miami’s examples and interact deeper with the cryptocurrency. New York and Miami are the US leaders when it comes to blockchain technology.

The recently elected mayor of New York Eric Adams also got his paycheck in crypto rather than US dollars. Another idea that he called upon is adding blockchain and crypto as a subject in schools and argued that digital assets represent the future of the monetary system and the pupils can study the matter at an early age.