Tennessee City considers Bitcoin tax payments By BTC Peers

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Tennessee City considers Bitcoin tax payments

Cryptocurrency Jul 17, 2021 02:30AM ET

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Tennessee City considers Bitcoin tax payments

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The mayor of Jackson, the eighth-largest city in the state of Tennessee, disclosed on Friday that plans are on the way to allow citizens to pay their property taxes in Bitcoin.

In a series of tweets, Mayor Scott Conger said that a blockchain task force is working towards making the flagship currency a payment option for taxes. Furthermore, the task force wants employees to dollar-cost average Bitcoin.

Our blockchain task force is looking into how the @CityofJacksonTN can accept property tax payments in #bitcoin and allow our employees to DCA in Bitcoin.
— Mayor Scott Conger (@MayorConger) July 16, 2021

The mayor is determined to turn Jackson into a major cryptocurrency hub. Back in April, Conger announced that a blockchain task force had been set up for the city. He also noted the incoming industrial revolution that could be ushered in by Bitcoin adoption.

I’m taking pointers from @FrancisSuarez In the coming weeks I will be forming a Block Chain Task Force to explore how to best position the @CityofJacksonTN for the future.#Crypto #cryptocurrency #Bitcoin
— Mayor Scott Conger (@MayorConger) April 8, 2021

Meanwhile, in a separate tweet, Conger raised concerns over dollar debasement. He said:

Why do we accept inflation? Why don’t we demand more from our federal government? 6.3% in 2 years. 172.8% in my lifetime. Every year our dollar is worthless.

Conger is arguably emulating the steps of Francis Suarez, the mayor of Miami, who pushed a similar proposal earlier in the year.

Speaking of inflation, in a recent appearance on CNBC, Treasury Secretary Janet Yellen said that there might still be several months of “rapid inflation.”

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