Canadian Town Says Yes to Accepting Bitcoin for Property Taxes
The City of Richmond Hill, a municipality in Canada, is set to accept bitcoin (BTC) for property tax payments from residents and businesses, according to an announcement on Monday.
The municipality has partnered cryptocurrency trading platform and payments processor Coinberry for the initiative. Once the deal is concluded, over 200,000 residents of the city will see bitcoin as a payment option on the municipality’s website.
“We believe that the demand for a digital currency payment option is only going to grow in the coming years, especially amongst millennials. Our Council was aware of Coinberry’s successful implementation of a digital currency payment service with the Town of Innisfil, and since there was no cost and no risk to […] do the same, it made the decision that much easier for us,” said Joe Di Paola, deputy mayor, Richmond Hill.
Back in March, Coinberry also partnered with the Town of Innisfil in Ontario to provide its 36,000 residents the option of paying property taxes in bitcoin, as part of a one-year trial.