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Cryptocurrency News: Property Taxes Soon Be Payable By Bitcoin In Canada

Coinberry, the Financial Transactions and Reports Analysis Centre of Canada (FINTRAC) registered cryptocurrency trading platform is ready to provide its payment services for paying property tax via Bitcoin (BTC) to Richmond Hill- a south-central York Region of Ontario, Canada citizens, once the negotiation would be over and the deal completes. The news revealed in a press release on July 15.

Canada, Bitpay, and Cryptocurrency Payment

Canada has emerged out to be a cryptocurrency-friendly nation where the government is also taking positive initiatives to cooperate with the residents and business ventures while embracing digital currencies and setting robust standards for the future.

In November 2018, the state of Ohio, United States turned out to be the 1st place where enterprises were allowed to pay 23 types of taxes through cryptocurrencies, allegedly to maintain government transparency. During the time, the transaction process facilitated by the cryptocurrency payment service provider BitPay and the online portal was built by the state treasury office.

Coinberry in its latest move trying to construct a system with similar interest on increasing cryptocurrency adoption in the Richmond Hill, after successfully initiated the process in the Town of Innisfil with no cost and no risk structure, another area in the Greater Toronto which the company started during the last week of May 2019, as a pilot project.

Coinberry and Bitcoin [BTC]

As per the displayed information, this forthcoming deal is treated as a second partnership of Coinberry in Municipal foray after Innisfil. On July 10, the jurisdiction council had voted and preferred Coinberry to facilitate the government while supporting Bitcoin (BTC) for property tax payments.

Joe di Paola, the municipality’s deputy mayor expressed his optimistic attitude towards the adoption of cryptocurrencies and said that the demand for cryptocurrencies would be going to increase with time and so the digital currency payment option in the upcoming years, particularly between millennial.

He further indicated the positivity towards Coinberry and appreciated the work which the establishment is doing in the crypto payment service space by referring the example of the Town of Innisfil.

Image by Clifford Photography from Pixabay

Tags: Bitcoin (BTC) News, Canada, Ohio, Cryptocurrencies, Innisfil, Coinberry, Digital Currency Bitcoin Accepted, BitPay