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Bermuda Becomes First Gov’t to Accept Tax Payments in USDC Stablecoin

Published 10/16/2019, 07:33 AM
Updated 10/16/2019, 07:41 AM
Bermuda Becomes First Gov’t to Accept Tax Payments in USDC Stablecoin

Global financial services company Circle announced that Bermuda became the first government to accept its stablecoin USD Coin (USDC) for tax payments.

According to a press release shared with Cointelegraph on Oct. 16, this development is part of a broader initiative, which sees the Bermuda government support “the use of USD-dollar backed stablecoins and decentralized finance protocols and services.”

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