Toronto Will Look Into Cryptos

Toronto Will Look Into Cryptos

A representative of the Toronto City Council suggested using Bitcoin to pay taxes on real estate, parking and land.

Toronto City Councilman Norm Kelly , who has recently been interested in Twitter, who understands what bitcoin offered, suggested that a question on the possibility of paying taxes on real estate in the cryptocurrency be submitted for the upcoming meeting on January 31.

I would hope that there would be an interest in getting a more professional set of eyes on the issue than just simply the feelings or speculations of members of council, as insightful as they may be.

He also stressed that Toronto is for him a city that accepts any innovations, so I am confident that his proposal will be adopted by the Council, the report will be sent to the budget committee and will be considered in detail.

The city of Toronto has emerged as one of the premier cities of the world, and it's proud to be a center of innovation and creativity and I think this adds to that brand, - Kelly said. Regardless of what happens, people know that we're not afraid of investigating and promoting the future.

If Norman Kelly's proposal is supported, he will be able to consider the budget committee earlier this year. Experts, however, doubt that such an idea will get the required number of votes.

Hundreds of thousands of companies around the world have long adopted cryptocurrency as a means of payment, why should governments not use it.

Bank of Canada meanwhile is studying the pros and cons of the issue of digital currencies. Its head Stephen Poloz (Stephen Poloz) admitted somehow that all these conversations about bitcoins pretty spoil his sleep.

Information Source: CBC