The Bermuda government has chosen a stable USDC coin for tax purposes. This was announced in a press release for cointelegraph by Circle.
Stablecoins will become the future financial system
Head of Circle, Jeremy Aller, noted that choosing USDC for tax payments is a decision to support the use of stablecoins. The company's CEO emphasized the words of Bermuda's Prime Minister, David Burt. The head of the executive branch indicated that stable coins will turn into the financial system of the future. Digital assets will make life easier not only for Bermuda residents, but also for the world.
Jeremy Aller added that Bermuda uses the US currency – the Bermuda dollar. Subsequently, the economy will rely on the use of stable coins. Aller is confident that stablecoins will become an instrument of everyday payments and trade relations.
Interesting in the section: BlockchainUA 2019: Experts' view on cryptocurrency development
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