Residents in Portsmouth, New Hampshire, will be able to pay their bills in Bitcoin (BTC). As well as other cryptocurrencies as part of the city’s drive to embrace virtual currency. The concept suggested to local officials by Deaglan McEachern, the city’s mayor. Who believes it will give citizens more payment options.
According to a local news report published on March 23 by Seacoastonline, Mayor McEachern stated that “there are waves of new things. That will affect us in terms of our future that use the type of technology used in cryptocurrency”.
According to McEachern, City Hall has learnt a lot more about cryptocurrencies and blockchains. As well as how to apply them to better city services. He also stated that any cryptocurrency payments will be turned into US dollars right away. Ensuring that the change would have no effect on the city’s monetary procedures.
As indicated by this project, governments are becoming more interested in cryptocurrency. Cities such as Miami and New York, for example, have been supportive of bitcoin adoption. Colorado governor Jared Polis stated in mid-February that the state government will allow residents to pay taxes in cryptocurrency as early as summer 2022.
Rather than waiting for a congressional framework, US politicians have recommended dealing with any possible regulatory uncertainties around digital assets at the state level. A member of the Tennessee House of Representatives proposed in February that the state is able to invest in cryptocurrencies and nonfungible tokens.