It looks like the United States is getting Crypto friendly after all!
The House Subcommittee has unanimously approved the proposed bill’s amendments to allow residents of New Hampshire to pay taxes in Cryptocurrency.
The submitted bill titled HB 470, addressed accounting, valuation and management issues related to accepting Cryptocurrencies. It will now go up for discussion on November 1, 2019. All that’s needed once approved is to find a third party payment processor to process to the tax payments in Cryptocurrency at no cost to the state. If passed successfully it will be implemented by the beginning of July 1, 2020.
New Hampshire, Indiana, Ohio, and Wyoming are four states in America which are showcasing their pro Cryptocurrency policies. Ohio has already accepted business taxes to be paid in Bitcoin and Bitcoin Cash. New Hampshire and Indiana are now following their footsteps to enable taxes to be paid in Crypto.
It looks like these states realize the future of Cryptocurrency given the advantages it has compared to fiat currencies along with the vast appreciation of digital currencies throughout the world.
Many countries including the largest democratic country in the world – India could learn from legalizing Cryptocurrency. Nishal Shetty, the founder of p2p Crypto exchange WazirX, tweeted to the prime minister and finance minister of India describing New Hampshire’s pro-Crypto step.
Nischal Shetty, CEO of WazirX Tweeted:
In other news:
Florida court argues that Bitcoin is a legal tender
Washington Introduces new Bill to Recognize and Encourage Blockchain and DLT Development
Discuss this news on our Telegram Community. Subscribe to us on Google news and do follow us on Twitter @Blockmanity
Did you like the news you just read? Please leave a feedback to help us serve you better
Disclaimer: Blockmanity is a news portal and does not provide any financial advice. Blockmanity's role is to inform the cryptocurrency and blockchain community about what's going on in this space. Please do your own due diligence before making any investment. Blockmanity won't be responsible for any loss of funds.
Unlocking the Future: Brings to Blockchains at NDSS 2025 Blockchain technology has exploded in popularity…
Institutions Admit – Why 70% Still Call BTC in 2026 In the volatile world of…
End of Offshore Crypto Hiding: Why Global Tax Rules Now Expose Your Unreported Gains Imagine…
Bitcoin Price Plunge: What Lies Ahead as BTC Dives Bitcoin has taken a sharp hit,…
Crypto Market Bloodbath: and Recovery Outlook The crypto world is reeling from a massive sell-off.…
Why Ethereum DApps Are Changing the Crypto Game Ethereum has been a game-changer since 2015.…