Paying taxes with Bitcoin? In the U.S., a bill has been proposed to allow IRS BTC payments.

Source: DigitalToday Original Title: Paying Taxes with Bitcoin? U.S. Proposes Bill Allowing IRS BTC Payments Original Link: A bill has been introduced that allows federal taxes to be paid in Bitcoin in the United States. Republican Congressman Warren Davidson submitted the 'Bitcoin for America Act' in the House of Representatives.

If the bill passes, taxes paid in Bitcoin will be included in the national strategic reserve, and taxpayers will not be subject to capital gains tax.

In March, the United States officially recognized its cryptocurrency holdings when President Donald Trump signed an executive order for strategic Bitcoin reserves. However, with the condition that the reserves must be expanded in a budget-neutral manner, a plan to utilize seized assets was presented instead of repetitive BTC purchases. This is a measure to keep the Bitcoins seized by the government without selling them, which has diverged from the initial expectations of the Bitcoin market.

There are criticisms regarding the use of seized assets to expand BTC holdings. Journalist and Bitcoin advocate Laura Lites pointed out that “it is the wrong direction for the government to encourage asset seizures for BTC accumulation,” and noted that “private asset seizures are an area in need of reform.” On the other hand, Matt Hogan, Chief Investment Officer of Bitwise, positively assessed that “strategic accumulation will lower the likelihood of the government banning BTC and will encourage other countries to competitively secure Bitcoin.”