11/12/18 11:00 UTC-4

Member of the UK Parliament proposed to use cryptocurrency to pay taxes

Eddie Hughes, a member of the UK parliament, proposed allowing permission to pay taxes using cryptocurrencies, as reported by the CCN news agency.

According to a Daily Express newspaper on Monday, Hughes wants people to be able to pay municipal taxes to local governments, as well as utility bills, using altcoins or cryptocurrencies.


Cryptocurrencies in the UK

As is known, municipal tax is levied monthly on households in the UK to finance local services, based on the estimated value of the property and the number of people living in it.

Eddie Hughes, a deputy from the ruling Conservative Party, said: "Only recently I was confronted with the situation at RNLI (Royal National Lifeboat Institution), which is now accepting charitable donations through cryptocurrency - if it is so easy to do, what prevents us from paying city tax and other bills using Bitcoin and other Altcoins?"

The deputy added that he would like the local government to establish a scheme that allows for cryptographic payments.

"We must consider this option, since we are a progressive country"

The politician is optimistic about cryptocurrency and blockchainBlockchain
is a continuous and sequential block chain of information (digital linked list). When building a blockchain, copies of related blocks are simultaneously stored on multiple computers.Details
technology for a long time. Recall that back in June, he stressed the advantages of the blockchain technology at the weekly parliamentary meeting. Later in July, Hughes also released an article on blockchain, published in FREER, at the initiative of the country's Institute of Economic Affairs.

In today's interview, Hughes also said that the wider adoption of cryptocurrency is hampered by a lack of knowledge about new technologies. A member of the UK Parliament in his proposal to use cryptocurrency for tax payments also mentioned other countries that have already begun to use blockchain for this purpose.

Editor: Alyona Nabok

See also: "TOP-10 new cryptocurrencies that rise in price"

#cryptocurrency #Great Britain #taxes #legislation



07/05/19 06:00 UTC-4

Bitcoin rate is growing: BTC crossed the $6,000 barrier

On May 7, the first Bitcoin cryptocurrency increased by 4.29%. Now, the weighted average rate of digital gold is $5,929. At the same time, the "high" deals in today's trading session have already crossed the border of the psychological barrier of $6,000.

Hypes, funds, fiat money