Austin Mayor Proposes Bitcoin to be Accepted for Payments for Taxes, Fees, Penalties – CryptoPotato

Steve Adler the mayor of Austin, Texas proposed two initiatives to turn the city into a global leader in the crypto space. The first includes further promotion of the benefits of blockchain technology and Web3, while the second is orientated towards adopting bitcoin as a payment method.

According to a recent statement, the Mayor of Austin Steve Adler seeks to utilize new technologies and innovation to improve government processes and better serve Austinites. As such, he has turned his focus towards blockchain technology and cryptocurrencies.

Apart from being the backbone of the digital asset industry, blockchain has many other potential use cases for both the private and public sectors, the politician said. In his view, the technology could be employed to create innovative solutions for people experiencing homelessness or introduced to other individuals struggling with social problems.

It is worth noting that there are thousands of homeless people in Austin, as most of them live with a disability.

Adler believes his city should dive into the Web3 universe, too. Engaging with the technology could enable Austin to develop its supply chain management and enhance its presence in the arts and media sectors:

The City Manager is directed to ensure the City is helping to create a 37 environment within city government and in the community generally that supports 38 the creation and development of new technologies, including without limitation 39 blockchain and other Web3 related technologies, protocols, and applications.

In addition, the mayor touched upon bitcoin. He praised its merits, saying it is a store of value, has enhanced security, and provides instantaneous transactions across geographical and political boundaries.

In his view, Austin should follow Miamis and New Yorks examples and interact deeper with the leading digital asset. Specifically, he proposed the acceptance of BTC as a payment method for municipal taxes, fees, and penalties.

It is safe to say that the two giant cities are the US leaders speaking of digital assets and blockchain technology. This is mainly due to their mayors Miamis Francis Suarez and New Yorks Eric Adams both bitcoin proponents.

The former personally invested in BTC and ETH. He also became the first politician to receive his salary in the primary digital asset instead of fiat currency. On top of it, last year, he said his administration is working on enabling the city residents to pay their taxes in BTC:

We want to do it with bitcoin because its what we know and what we trust. We think its the most verifiable and most trustworthy network out there.

The recently elected mayor of New York Eric Adams also got his paycheck in crypto instead of US dollars. The former police officer has stated numerous times he wants to transform the Big Apple into the global center of digital asset technology.

Another idea that he called upon is adding cryptocurrencies and blockchain technology as a subject in schools. Adams argued that digital assets represent the future of the monetary system, and as such, pupils should study the matter at an early age.

Featured Image Courtesy of CBS Austin

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Austin Mayor Proposes Bitcoin to be Accepted for Payments for Taxes, Fees, Penalties - CryptoPotato