According to reports, the mayor stated that City Hall had learnt more about cryptocurrencies and blockchain, as well as how to apply them to better city services.
The city of Portsmouth, New Hampshire, will allow residents to pay their bills in Bitcoin (BTC) and other cryptocurrencies in an effort to embrace virtual money. The mayor of the city, Deaglan McEachern, offered the concept to local officials, who believe it will provide citizens more payment options.
According to a March 23 local news report from Seacoastonline, “there are waves of new things that will touch us in terms of our future that leverage the type of technology used in cryptocurrency,” Mayor McEachern remarked. He continued, saying:
“I want to make sure Portsmouth isn’t waiting to see how this will affect us in the future because it is now having an impact on us.”
City Hall has learnt a lot more about cryptocurrencies and blockchains, as well as how to use them to improve city services, according to McEachern. He also stated that any cryptocurrency payments will be converted to US dollars immediately, ensuring that the transition would have no effect on the city’s monetary operations.
As evidenced by this project, governments are becoming increasingly interested in cryptocurrencies. For example, cryptocurrency adoption has been welcomed in Miami and New York. Colorado governor Jared Polis indicated in mid-February that people will be able to pay taxes in crypto as early as summer 2022, according to Cointelegraph.
Rather than waiting for a congressional framework, US politicians have urged that any possible regulatory uncertainties surrounding digital assets be handled at the state level. A member of the Tennessee House of Representatives proposed in February that the state be allowed to invest in bitcoin and nonfungible tokens.
Disclaimer: These are the writer’s opinions and should not be considered investment advice. Readers should do their own research.
