Bermuda is the first in the world to allow paying taxes with cryptocurrency

Bermuda has allowed paying taxes and fees with USDC stablecoins, according to cryptocurrency startup Circle. As ForkLog notes , this is the first time in history.

https://twitter.com/circlepay/status/1184459495554060289

The government of Bermuda said the decision to accept taxes and fees in USDC is part of an initiative to use “decentralized financial protocols and services,” ForkLog adds.

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• A stablecoin is a digital currency pegged to a “real” asset (traditional currency, gold, a basket of currencies). This peg makes the cryptocurrency less volatile.
• Circle launched USD Coin in September 2018, according to CoinMarketCap, the cryptocurrency ranks 24th (out of a hundred) in terms of capitalization, which the resource estimates at $476.2 million
• By 19:40 Moscow time on October 16, one USDC was worth one US dollar.