In an effort to use virtual money, the city of Portsmouth, New Hampshire, will allow residents to pay their bills in bitcoin (BTC) and other cryptocurrencies. Deagle McKitchern, the city’s mayor, pitched the idea to city officials, who believe it will give residents more choice.
According to local news report Seacoastonline on March 23, Mayor McEachern said that “there is a wave of new things that will affect our future in terms of the type of technology used in cryptocurrencies.” He continued:
“I want to make sure Portsmouth are not waiting to see how this will affect us in the future because it is already affecting us.”
McEachern said City Hall has learned a lot about cryptocurrencies and blockchains and how they can be used to improve city services. He also stated that any payments in crypto will be immediately converted into US dollars, so the change will not have any impact on the city’s monetary policy.
As this project shows, the interest of the authorities in cryptocurrencies is growing. For example, Miami and New York unanimously adopted cryptocurrency. As Cointelegraph reported in mid-February, Colorado Gov. Jared Polis said the state government would allow residents to pay crypto taxes as early as summer 2022.
Related: US lawmaker pushes for nationwide regulation of stablecoins after hearing about digital assets
US lawmakers have proposed addressing any regulatory uncertainty related to digital assets at the state level, rather than waiting for a framework in Congress. Last February, a member of the Tennessee House of Representatives proposed allowing the state to invest in cryptocurrencies and non-fungible tokens.