At first, governments assumed Bitcoin didn’t exist. When cryptocurrencies use became rampant, governments were divided on whether to ban, be patience, or adopt and regulate. Until today, most governments have chosen to take a step back and monitor. However, a few like China have opted to ban, while others such as Japan, South Korea, the UK, USA, and Canada, are in agreement that Bitcoin and cryptocurrencies are here to stay.
Well, Canada is the latest to allow its burgeoning cryptocurrency community to pay property taxes using Bitcoin. Residents in the country’s City of Richmond Hill will soon be allowed to pay their taxes in Bitcoin.