Congressman

US Congressman Matt Gaetz has proposed a bill to make federal income tax payable using Bitcoin. The bill’s passing will be a significant development for crypto adoption, but it will also have ramifications for Bitcoin investors. Matt Gaetz Proposes Bitcoin for Federal Income Taxes Florida Rep. Matt Gaetz wants the Internal Revenue Code of 1986 amended so that Federal income tax becomes payable in Bitcoin. The bill calls for the Treasury to allow any tax imposed on a taxpayer to be…

The post US Congressman Matt Gaetz Proposes Bill to Accept Bitcoin for Federal Tax Payments appeared first on Coinpedia Fintech News Congressman Matt Gaetz, a Republican from Florida, has proposed a bill that would enable federal income tax payments in Bitcoin. Initially reported by the Daily Wire, this legislation seeks to modify the Internal Revenue Code of 1986 by directing the Secretary of the Treasury to develop a strategy for adding Bitcoin into tax payment options. Bitcoin’s Demand Grows Amid…

The Blockchain Integrity Act bans financial services from processing transactions from coin mixers and stipulates a $100,000 civil penalty for offenders. The bill proposes the ban to last two years, during which the Department of the Treasury would compile a report on the sector to inform further actions. A new bill introduced at the US House of Representatives seeks to ban cryptocurrency mixers for two years, cutting them off from all registered virtual asset service providers (VASPs) for two years.…

According to a tweet from US congressman Pete Sessions, the mining industry in America could be pivotal in the nation’s journey to energy independence.  Gas Costs Rise With Global Unease Since the start of the Russia-Ukraine conflict, gas costs have risen alongside tensions worldwide. US residents have not been left out of this. Recently, President Joe Biden spoke about the price hike saying the situation highlights the need to become energy independent. Biden called for a transition to sustainable sources…