Recently, Florida Governor Ron De Santis plans to allow businesses to pay taxes in crypto. He has already asked the state agencies to figure out ways in which they can do that. And if a business wants to pay their tax in crypto, they will be willing to accept it. At this point, they are working on the mechanism behind it.
Positive news for crypto
Florida’s Miami is already one of the most popular places for cryptocurrencies. This was possible because of the steps taken by Mayor Francis Suarez, who has been embracing ways to promote cryptocurrencies. He has even started accepting his paycheck in Bitcoin. So, it doesn’t come as a surprise that the governor of the state also stays at par with their crypto reputation. Even crypto companies are opening up their offices in Miami because of the crypto-friendly atmosphere and lenient laws there.
DeSantis on the importance of Bitcoin
Time and again, the government has shown interest in bringing their own central bank digital currency. But DeSantis has explained that there is a stark difference between Bitcoin and a CBDC. While, on the one hand, the former is decentralized, the latter will be controlled by the government. If it becomes the only way to make transactions then the authorities will have too much power. Let’s say the government doesn’t want you to buy more than 1 loaf of bread every day; then you won’t be able to do it. It’s your money, but you can’t control the way you want to spend it. However, it is true that the executive order has been positive for cryptocurrencies, and they are now termed as an essential part of the economy.
About DeSantis
Ronald Dion DeSantis (born September 14, 1978) is an American politician and lawyer who has served as Florida’s 46th governor since 2019. DeSantis was a member of the United States House of Representatives representing Florida’s 6th district from 2013 to 2018 before becoming governor. He was elected to Congress for the first time in 2012, defeating Democratic challenger Heather Beaven. During his time in office, he gained a reputation as a Trump ally.
What are your thoughts as Florida plans to allow businesses to pay taxes in crypto? And do you think companies will actually use this option? Let us know in the comments below. Also, if you found our content informative, do like and share it with your friends.
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