Canadian town now allows Tax payments in Bitcoin

Canada’s Coinberry has reportedly collaborated with the Richmond Hill, one of Canada’s most populous municipality to accommodate its citizens with the option of paying property tax in the form of cryptocurrency Bitcoin.

As per the report, Richmond Hill’s City Council cited the provisioning of a choice for the citizens and the businesses for payment of the municipal tax in Bitcoin and then they voted in support of the agreement. Hence, making Richmond Hill the second municipality of Canada and Canada’s first-ever city to allow Bitcoin as a municipal tax option.

The proposal was initially put forwarded by the city’s Deputy Mayor Joe Di Paola before the City Council, he emphasized on the expanded application of the cryptocurrencies and how the millennials are more inclined towards crypto assets.

Furthermore, he stated that the City Council is well acquainted with the well-executed payment service project with Innisfil town by the Coinberry platform. Hence, Richmond Hill can follow as no risks and costs are involved.

The new collaboration embarks yet another partnership of Coinberry with Canada’s municipality in less than six months’ time period. As, before the Richmond Hill, Innisfil is the first town in Canada to ever approve Bitcoin as a payment method for the property tax.

The development is still on-going and municipal staff has been directed to report about the feasibility of Coinberry’s project execution for the payment methods in Richmond Hill by the end of September 2019.

Coinberry’s Co-Founder and CEO Andre Poliakov stated that this collaboration with Canada’s municipality indicates that government leaders and business companies are increasingly acknowledging that with the capable platforms, unlimited innovations with blockchain technology and cryptocurrencies can be made. Moreover, various new projects will be announced in the upcoming months.