According to TechFlow, U.S. Congressman Matt Gaetz has proposed a bill that would allow Americans to use Bitcoin to pay federal income taxes. The bill seeks to amend the Internal Revenue Code of 1986, requiring the Secretary of the Treasury to develop a system for accepting Bitcoin payments for tax payments and immediately converting Bitcoin into U.S. dollars. The bill also includes IRS contract services, fee rules, liability, and confidentiality clauses.

Gaetz said the move is intended to encourage innovation and efficiency and keep the United States at the forefront of technological advancement.