A bill in the Texas legislature would allow residents to use Bitcoin to pay taxes and make charitable donations. The Texas Strategic Bitcoin Reserve Act has bipartisan support and could set a precedent for other states if passed. If approved, it would enable fees, contributions, and taxes to be paid using cryptocurrency. A minimum of five years’ worth of bitcoin reserves would be held.
The bill’s sponsor said cryptocurrency is creating new jobs in the state and Bitcoin has fostered an ecosystem around Texas. Several other states are considering similar legislation. President-elect Donald Trump plans a crypto-friendly administration with lighter regulations and a proposed crypto czar. The Texas legislature will begin its session on January 14, just before Trump’s inauguration.
Source: https://www.newsnationnow.com/politics/texas-bill-bitcoin-used-taxes-donations