Home ยป The UK May Allow Crypto Tax Payments

The UK May Allow Crypto Tax Payments

Eddie Hughes, an MP from the ruling Conservative party, has presented a bill on allowing cryptocurrency tax payments. If adopted, the law will allow to pay council tax to local authorities, as well as household bills to utility firms, with bitcoin or altcoins.
news - The UK May Allow Crypto Tax Payments

Eddie Hughes, an MP from the ruling Conservative party, has presented a bill on allowing cryptocurrency tax payments. If adopted, the law will allow to pay council tax to local authorities, as well as household bills to utility firms, with bitcoin or altcoins.

“Only recently I met with the RNLI [Royal National Lifeboat Institution] which is now accepting charitable donations through cryptocurrency – if we can do that, what’s to stop us being able to pay council tax and other bills with bitcoin? We need to be seen as a progressive country,” Hughes said.

Hughs also said wider adoption of cryptocurrencies is being held back by lack of knowledge on the technology.

“It needs to appear like an app that people will use so they can become familiar with it in a safe and secure way,” he said.

The MP also said wider adoption of cryptocurrencies is being held back by lack of knowledge on the technology. 

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“It needs to appear like an app that people will use so they can become familiar with it in a safe and secure way,” he said.

As a reminder, last month, Ohio, the recent US states to adopt legislation supporting the use of blockchain technology, announced it would allow local businesses to pay a variety of taxes in bitcoin.

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