September 20, 2020

In Bermuda, taxes and public services can be paid with USDC stablecoin

In Bermuda, taxes and public services can be paid with USDC stablecoin

The Bermuda Government has announced that it will start accepting payments of taxes, fees and other public services in the USD Coin cryptocurrency.

The island nation was the first country to legalize the US dollar-linked token issued by private companies Coinbase and Circle.

Moreover, the government also stated that alreadyis working on expanding an initiative to integrate digital assets and plans to add support for other decentralized financial protocols and services to the formal sector of the economy.

Such a decision The government’s supportive attitude towards the crypto industry and the recent relocation of Circle's exchange operations to Bermuda have contributed to its commitment.

However, this is not the first state to bindyour cryptocurrency economy. In September, the Marshall Islands announced the release of the national digital currency Sovereign with a fixed increase in money supply.

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