Finance

Bitpay Offers Bitcoin Cash and Bitcoin Core as New modes of Tax Payments

Bitpay, a popular crypto payment processor, declared the official agreement with Joel M. Greenberg, Seminole County Tax Collector, Florida. Both Bitcoin core (BTC) and bitcoin cash (BCH) can be now utilized from the beginning of this summer for the payments of tax. People in the country can pay in crypto for ID cards, driver licenses, and even property taxes.

Greenberg  proclaimed that technology today has given access to on-demand services offering delivery on the same day. It also offers highly competent consumer service. And the society should insist on the same efficiency from the government too. He further added that the goal of the company is to offer the customers with smarter, faster, and more proficient services. The company also focuses on updating the government services and bringing them from the 18th century into the 21st century. Further, he added that all these things can be achieved by adding cryptocurrency to the current payment options.

Cryptocurrency is an amoral technology, which can be used as a tool for vacation getaways, terrorism, housing, and now for taxes too. Generally, governments do not accept innovation easily. On the other hand, it is surprisingly very active and alert at the time of revenue collection. Tax payment by credit or debit involves the processors, which take a heavy cut. Crypto and the Bitpay Visa is a simple process, which makes the expropriation experience good by benefitting all the participants involved in it. There is no need for another conversion. Also, the governments save in fees.

Jeremie Beaudry, Head of Compliance at Bitpay, explained that Bitpay was initiated because they recognized the potential for blockchain, which can modernize the financial industry. This modernization will make the payments inexpensive, more secure, and faster globally. Bitpay has engaged its first government agency with the Seminole County Tax Collector’s office. It will accept bitcoin and bitcoin cash in an easy and flawless manner.

Zimbabwe is said to be Africa’s one of most active markets for crypto transactions. And recently, the Zimbabwean central banks’ have banned on processing virtual currency payments with a 2-month ultimatum to put this into effect.

This announcement has thrown, Golix, a leading cryptocurrency exchange platform, into chaos. It has halted the company’s all plans to generate the funds to expand across Africa.

About the author

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Shivangi Mehra

Shivangi holds a degree in Masters in Business Administration, from S. P. Jain Institute of Management and Research College, in the field of business and finance. She has been active in industry since 6 years, and has written for various well known publications as well. Her articles have been featured several times in regional news and as global tech news. Her unique style of writing, and in-depth analysis skills regarding the past trends and upcoming scope of opportunities makes her a perfect choice for her designation as an Editor for Latest Industry News.

Email: shivangi.m@latestindustrynews.com

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