Express

Bermuda Becomes First Government To Accept USDC Stablecoin For Tax Payments

Janelle Fox

Summary: Bermuda has become the first government to accept its stablecoin USD Coin (USDC) for tax payments, according to CoinTelegraph. This announcement which came from global financial services company Circle, is just the beginning of a bigger plan from the Bermuda government to support “The use of USD-dollar backed stablecoins and decentralized finance protocols and services.” ...

Bermuda has become the first government to accept its stablecoin USD Coin (USDC) for tax payments, according to CoinTelegraph.

This announcement which came from global financial services company Circle, is just the beginning of a bigger plan from the Bermuda government to support “The use of USD-dollar backed stablecoins and decentralized finance protocols and services.” The move makes sense for Bermuda as their fiat currency the Bermudian dollar is already backed by the United States dollar.

By Janelle Fox

Last Update:

Tags: ,,,,
Link: Bermuda Becomes First Government To Accept USDC Stablecoin For Tax Payments   [Copy]
Next:

Related Articles

  • From Data Rights to Digital Property: Whistleblower Brittany Kaiser on Blockchain, RWA,... 4 days ago
  • The Base Chain's Ascent: How Deep Coinbase Integration and JPMorgan's Pilot Are Reshapi... 10 days ago
  • Tether in Trouble? U.S. Senate Just Passed a Law That Could Dethrone the $155B Stableco... 13 days ago
  • Justin Sun's Nasdaq Gamble: How Six Years Forged Ties with the Trump Family 14 days ago
  • The Crypto IPO Wave: From Fringe to Front Page 17 days ago

    • You need to login to comment.