Bitcoin is a legitimate form of currency – Ohio accepts crypto as a tax payment.

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November 25, the state of Ohio starts accepting Bitcoin as a tax payment. Originally it applies only to businesses willing to pay their taxes with Bitcoin, but eventually, this will be introduced to the broader society like individual taxpayers as well. 

Starts already this week

As of now, businesses based in Ohio can start the registration to begin paying taxes with Bitcoin, the leading asset of cryptocurrencies. Crypto payments service provider BitPay will process these payments. BitPay has been operating in the Bitcoin payment area since 2011, and they already are cooperating with major players like Microsoft, Virgin, Shopify and possibly BMW.

Initiated by a pro-crypto state treasurer

The regulation initially came from Josh Mandel, who is a pro-crypto American Republican politician. He is a former city councilman and a member of the Ohio House of Representatives. He is confident that this move will continue to develop among other states, leading to a wider cryptocurrency adoption. Mandel stands optimistic on the issue of a national cryptocurrency.

Other states also apply for cryptocurrency adoption

Additionally, other states in the U.S. also have proposed on accepting cryptocurrencies for tax payments, but state legislators have delayed their final passing. Maybe the state of Georgia – the home of BitPay, will be the next one? 

Source:

https://goo.gl/yd8BH9
https://bitpay.com
https://goo.gl/Ti8tzD
https://goo.gl/iya4ch

Photo by Benjamin Lehman from Pexels

In UK, a BMW Car dealership is now accepting Bitcoin as a payment option

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In a recent tweet from @SJBMWGroup, which is the official twitter account of an authorized Stephen James BMW car dealership in London and Kent, UK, they are announcing that they are now accepting Bitcoin (BTC) as a payment option. The tweet reads:

“Stephen James is now accepting Bitcoin for the purchase of your new BMW! Contact us today to find out more about how you can use Bitcoin to walk away with a brand new vehicle #bitcoin #bitpay.”

Judging by the BitPay hashtag, a few tweeters are speculating that Stephen James BMW could be using BitPay as their payment processor. If so, some have pointed out that they could be accepting Bitcoin Cash (BCH) as well.

A new day, a new real world application for BTC. In case you have a ton of Bitcoin from 2013, or even 2011, here is a website (https://coinmap.org) which has summarized, in a very interactive map style, all the places in the world where you can use your bitcoin. As you can see, in the pictures below, Europe has the highest concentration of places where Bitcoin is accepted.

Whereas South Korea and Japan, where BTC is approved almost as an official payment option and in Japan the government has approved it, the magnitude isn’t that high.

Overall at the moment there are 12 938 venues accepting BTC.

But how can we speak about spending BTC, when all what we do is HODL?

Source:
https://coinmap.org/

https://goo.gl/wqz8j6