Canadian Town of Innisfil To Launch A Program for Paying Taxes With Crypto

A pilot program is being developed in the town of Innisfil, Ontario, Canada, where residents can pay property taxes using cryptocurrencies. The Council of Innisfil voted for the approval of the program, CBC reports.

The program is carried out in partnership with Coinberry Pay, the cryptocurrency payment processing project. Coinberry Pay converts cryptocurrency into Canadian dollars and transfers payments to the town. It is reported that initially, the payments will be accepted in Bitcoins, other cryptocurrencies will be added later: Ethereum, Litecoin, Bitcoin Cash and Ripple.

Lynn DOLLIN, the mayor of Innisfil, noted that the new payment pilot showed that the community prioritizes innovation. In 2017, the town with a population of 36,000 people launched a tax-subsidized ride sharing program called Innisfil Transit, in partnership with Uber.

It is worth noting that in 2018 a similar initiative was introduced in Toronto, but it did not find much support from the city authorities.

Image courtesy of Welcome Center