Businesses in Florida to Pay Taxes Via Crypto Says Governor Ron DeSantis

The number of US politicians in the pro-crypto camp is increasing daily against those in the opposition camp. These politicians advocate for the acceptance and legalization of digital assets as a means of retail payments and investment opportunities.

Among US politicians in the pro-crypto camp is Ron DeSantis, Governor of Florida state. Ron revealed that he is on top gear to enact laws that will enable businesses to pay government taxes through digital assets.

2024 Republican presidential hopeful, Ron, while speaking in a conference, announced that he had directed concerned government parastatals to map out means to accept crypto payments objectively. The idea is to enable businesses to pay taxes via cryptocurrencies against the fiat method.

The Need for Crypto Adoption

The need for the adoption and acceptance is to consolidate the position of Florida as a blockchain and crypto regional hub. The likes of Francis Suarez, the Mayor of Miami, have indicated that he would be receiving his salary via crypto.

One of the Florida governorship faithful, Nikki Fried affirmed that she accepts cryptocurrencies as donations to support her political campaigns. More politicians and retail shops in Florida are increasingly accepting cryptocurrencies for salary and retail payments.

Earlier this month, the Biden administration signed an executive order for crypto regulation and the creation of US CBDC. However, Ron has expressed worries about such an order. He said a considerable gap exists between a decentralized digital currency such as Ether and a centralized digital asset like the bank-issued CBDC.

He believes that introducing a Central Bank Digital Currency (CBDC) with a central authority will spell doom for the economy. His reasons resonate that it would mean allotting so much power to a person to authorize access to make payments; that is something to worry about.

Supporting the opinion of the Florida state governor, Tom Emmer, a Minnesota representative, has issued a warning against a digit dollar. He stated that centrally controlled CBDC would be likened to China’s government authority over their citizen’s finance.

Increase of Politicians in the Crypto Pro-Camp

Us politicians across the party divide increasingly support and advocate for crypto acceptance and adoption in the US. Though a few congress members like Senator Elizabeth Warren are worried about such moves, crypto supporters are not deterred.

Senator Elizabeth Warren had sometimes beckoned on the Security and Exchange Commission (SEC) to introduce stricter measures in regulating crypto activities and participation. The senator expressed concerns that Russia might use digital assets to evade sanctions from the US, EU, and other allied countries.

Against the opinion of Elizabeth, Eric Adams, an NYC mayor, is delighted to announce that his salary was paid to him via crypto. Similarly, Scott Conger and other crypto supporters have encouraged employees to include digital assets in their retirement plans.

With the fight for supremacy in the camps or crypto supporters and crypto detractors, there is hope that the latter will be replaced. The emergence of young, vibrant, powerful politicians like DeSantis and others, who are optimistic and possess innovative opinions about crypto, would revolutionize how the US government sees and understands how crypto works.

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