Portsmouth accepts bitcoin payments for city bills

In a bid to leverage virtual money, the city of Portsmouth, New Hampshire will allow residents to pay their bills in bitcoin (Bitcoin) and other cryptocurrencies. Deaglan McEachern, the city’s mayor, pitched the idea to city officials, who believe it will offer residents more payment options.

According to a local news item report Of Seacoastonline, Mayor McEachern said on March 23 that “there are waves of new things that are going to affect us in terms of our future that use the kind of technology that is used in cryptocurrency.” He went on to say:

“I want to make sure Portsmouth are not waiting to see how this will affect us going forward as it is already affecting us.”

McEachern said City Hall learned a lot more about cryptocurrencies and blockchains and how to use them for improved city services. He also mentioned that all cryptocurrency payments would be converted to US dollars immediately, so the change would not impact the city’s monetary practices.

Government interest in cryptocurrencies is increasing, as this project shows. Miami and new York, for example, were friendly towards the adoption of cryptocurrencies. As Cointelegraph reported in mid-February, Colorado Gov. Jared Polis said the state government would allow it Residents to pay taxes in crypto already in the summer of 2022.

Related: US lawmakers push for state regulations on stablecoins at digital assets hearing

United States lawmakers have proposed addressing potential regulatory uncertainties related to digital assets at the state level rather than awaiting a congressional framework. As early as February, a member of the Tennessee House of Representatives proposed allowing the state to do so Invest in cryptocurrency and non-fungible tokens.