What do you guys think about a city accepting Bitcoin for paying taxes, fines and all other invoices from the municipality.
Is it a bad thing or a good thing for the Bitcoin ecosystem ?
I believe that accepting crypto and especially BITCOIN to pay taxes could be a favorable business framework conditions for crypto companies / investor that are looking for a place to establish their operations.
Additionally, let's imagine a company that decided to go full on crypto (in their treasury) , how are they going to fulfill their taxes obligations ?
Switzerland is also crypto friendly nation so I guess it can depend on the state of a country.
In a country or city where Bitcoin is legally accepted without any restrictions, such a method can be adopted peacefully, but I Bitcoin is a private asset for investors. In my opinion, it can be quite acceptable for a big company or institutional Bitcoin investor to pay their tax in Bitcoin, but I, as a private investor of Bitcoin, would prefer to pay my tax in fait (local currency) because we all know that when you pay your tax from your wallet, first you will have to reveal your identity to prove that you are the one who has paid, and at the same time, you will also give the government access to track every transaction you are carrying out in your wallet.
In that situation, your privacy is leaked because the government will be watching you. I thought we were not supposed to handle our bitcoin like that. We all know how the government can be sometimes; they could just come up with some new rules overnight that could be so unfavorable for Bitcoin holders.