KEY POINTS
- The bill, if passed, will order the Treasury Secretary to develop a method that allows BTC payments
- Fees similar to credit card payments will apply to the novel tax payment method
- Some crypto users said the bill could drive wider crypto adoption in the country
- Others questioned why they would be willing to give their Bitcoin stash to the government
A Republican congressman has introduced a new bill that could alter the way cryptocurrency users pay their income taxes, signaling increasing interest among lawmakers on ways through which Bitcoin can be integrated into traditional systems. However, many BTC holders are not pleased with the news.
