State of Florida Now Accepting Tax Payments through Cryptocurrency
Joel Greenberg, tax collector for Seminole County Florida. He recently was heard to make a statement in regard to the upcoming summer. For the first time, in a press release released from Joel’s office stated that Florida would be accepting Bitcoin and Bitcoin Cash Payments to pay for taxes to the county. The county will use BitPay to process the payments.
The county of Seminole is an area with a population that is roughly half a million people. Within the county is Sanford, the largest city with a population of 58,605 as of 2016.The word itself Seminole originates from the Spanish word Cimarron, or untamed.
Joel Greenberg has been in his position since about January of 2017. He’s introduced some plans to introduce a modernization plan that incorporates the use of AI, or Artificial Intelligence.
The press release also discloses information on the blockchain technology. It’s done in a way that helps users avoid hefty fees charged via debit cards and credit card payment services as well as cites any improvements made with payment accuracy, efficiency and transparency.
He’s already taken on Arizona and won. The state is projected to be one of the first states in the United States to start using cryptocurrency for tax purposes. The only thing is, the new choice was halted for a period not all of the local government saw eye to eye on the new proposal. One of the lawmakers made the argument that acceptance would exchange the risk associated with paying taxes from the person to the Department of Revenue and then eventually all the rest of the tax payers.
The press release today stated there is zero risk to the county because the user gives the equivalent amount of cryptocurrency needed for the bill and the appropriate county authorities take the money in USD. BitPay then takes 1% of all the transactions being made.
Joel then was heard to said,
“We live in a world where technology has made access to services on demand, with same-day delivery and the expectation of highly efficient customer service and we should expect the same from our government. The aim of my tenure in office is to make our customer experience faster, smarter, and more efficient, and to bring government services from the 18th century into the 21st century and one way is the addition of cryptocurrency to our payment options.”
Head of the Compliance at BitPay Jeremie Beaudy stated,
“BitPay was started because we recognized the potential for blockchain to revolutionize the financial industry, making payments faster, more secure, and less expensive on a global scale. With the Seminole County Tax Collector’s office, we have engaged our first government agency to accept bitcoin and bitcoin cash by making it easy and seamless for them.”