Bitcoin Reserves: Nine US States Could Preempt Trump
Even before an eventual government announcement under Donald Trump, nine US states could take the initiative. Colorado makes the start and allows its state taxes to be paid in Bitcoin. With this focus, these states are preemptively addressing a plan that Trump had declared for a possible second term as US President.
The US state of Colorado is making headlines with a policy that allows taxes to be paid in Bitcoin. There is reportedly coordination on this nationwide and agreement to make it possible to pay state fees with Bitcoin. Applicants need to specify a Bitcoin wallet.
The community’s attention is focused on whether opponents of the Republicans will support or thwart this plan undertaken by Trump.
Legal: A plan to allow Bitcoin already exists
In reality, the corresponding plans for taxes in Bitcoin have been in place since 2019. However, the timing is suspect, as the actual implementation was initially announced by Donald Trump and only then was detailed information released from the affiliated states, some of which are governed by opposing political parties.
Nine states in a pilot leading to Bitcoin as a legal tax payment method
It is not yet clear when the tax payment with Bitcoin will be implemented in all US states. However, there is a pilot program.
How does this fit with Trump’s plans as he campaigns for a possible second term in office?
There is a connection to Trump, who was particularly involved with the Federal Reserve during his first tenure. Just two weeks ago, Trump publicly announced he would allow taxes to be paid in Bitcoin in all states in a second presidential term.
Donald Trump is thus clearly positioning himself again as a revolutionary…
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