A bill has been developed in the United States to allow income taxes to be paid in BTC

A Florida state representative has introduced legislation that would amend the 1986 Internal Revenue Code to allow taxpayers to use the leading cryptocurrency to pay taxes.

The amendment would require the Treasury to “develop and implement a method that allows Bitcoin to be used to pay any taxes levied on individuals,” under that title.

 The bill will be a huge step towards the spread of cryptocurrency in the United States. During 2024, Bitcoin adoption in the United States accelerated significantly. The premier cryptocurrency formed the basis of the country's first cryptocurrency ETF, which saw institutional interest grow at a record pace.

A new initiative from an American congressman called for giving this process even greater impetus: By allowing taxpayers to use Bitcoin to pay their federal taxes, we can promote innovation, increase efficiency and offer greater flexibility to American citizens,” Gaetz said.

This is a bold step towards a future in which digital currencies will play a vital role in our financial system. Gaetz recently visited El Salvador, where President Nayib Bukele was recently inaugurated. During his first presidential term in 2021, he accepted BTC as legal tender, thus setting a record.