Eddie Hughes, UK Member of Parliament, is eager to spread a wider acceptance of cryptocurrencies. Following the recent announcement from Ohio allowing local companies to pay taxes in Bitcoin, MP Hughes’ has called for local authorities to follow their lead in accepting Bitcoin tax payments. Eddie Hughes believes that the lack of reliable information is holding back wider adoption of the currency; local authorities providing more information on how to pay taxes with Bitcoin would ‘plant a flag’ showing that a similar scheme could work in the UK.
In July, Hughes penned a report, calling for the UK to appoint a ‘Chief Blockchain Officer’ and is now saying ’“You’re either ahead of the curve or you’re behind the curve, and our country is in an interesting position right now. We need to be seen as a progressive country… Taking the lead in this field could prove very beneficial.” He is very passionate about this development and is pushing to inform other MPs about the potential. Hughes’ report detailed £8 billion in savings that the technology could bring, commenting that “The state should focus its attention on using blockchain to enable social freedom, to increase efficiency, and to rebuild societal trust”. Accepting Council Tax payments in Bitcoin seems to be the appropriate stepping stone for a wider user base across the country, and pave the way for greater adoption in the coming years.
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