According to Odaily, US Congressman Matt Gaetz has initiated a proposal to allow the use of Bitcoin (BTC) for federal income tax payments. This move, if approved, could mark a significant shift in the acceptance and use of cryptocurrencies in the US government's financial transactions.
The proposal is currently under review and could potentially change the landscape of digital currency usage in the country. It is worth noting that the acceptance of Bitcoin for tax payments would not only legitimize its use but also potentially encourage more people to invest and transact in Bitcoin.
However, the proposal is still in its early stages and will need to undergo several legislative processes before it can be implemented. The implications of such a move on the US economy and the global cryptocurrency market are yet to be fully understood.