Matt Gaetz, a Florida Congressman, has introduced a bill proposing Bitcoin as a legitimate method for paying federal income taxes in the United States. The proposal aims to usher in a new era of tax efficiency and technological leadership for the country. However, experts caution against its rapid adoption, citing Bitcoin’s price volatility as a significant source of uncertainty in tax payment processes. Additional concerns include security and infrastructure challenges for processing large-scale Bitcoin transactions.
Source: coinmarketcap.com
