• Tue, 10 Dec 2019, 02:49 AM
  • All times are UTC
  • Edition:
    International
Copy link
Increase text size
Decrease text size
Link copied

Canadian town of Innisfil to start accepting bitcoin for property tax payments this month

Mon, 01 Apr 2019, 06:32 am UTC

Innisfil, a town in Ontario, Canada, has become the first municipality in Canada to accept cryptocurrency as a method of payment for property taxes.

According to a press release dated March 28, Innisfil Council has voted in favor of accepting bitcoin as a payment method for property taxes. It has also given its nod to form an agreement with Coinberry, a Toronto-based blockchain and digital currency solutions provider, to provide the service for residents as part of a one-year pilot project.

“Once again, we are proud to be first in taking this bold step by offering this new, exciting payment option to our residents,” said Innisfil Mayor Lynn Dollin. “There’s no doubt that cryptocurrency is growing in usage and popularity. By getting into this now, we are making sure our municipality is ahead of the game, and signalling to the world that we truly are a future-ready and innovative community.”

The new payment option is expected to launch this month, giving residents the option to make payment in bitcoin. Once launched, residents would be able to access the Town of Innisfil’s digital wallet with Coinberry Pay and pay their taxes using Bitcoin.

Coinberry will process the funds in compliance with the existing financial regulatory requirements. The funds will be instantly converted to Canadian funds and transferred to the Town of Innisfil.

“Along with this partnership, Coinberry is extremely pleased to announce the launch of Coinberry Pay – an easy-to-use cryptocurrency payment solution that will allow Innisfil residents to pay their taxes using cryptocurrency,” said Andrei Poliakov, Coinberry CEO and Co-founder.

The council also plans to add other cryptocurrency options like Ethereum, Litecoin, Bitcoin Cash, and Ripple in the future.

<Copyright © TokenPost. All Rights Reserved. >

To leave a comment, please sign in.
More
  • Bitcoin (BTC) $7,405.87 (-1.62%)
  • Ethereum (ETH) $147.65 (-2.03%)
  • XRP (XRP) $0.224600 (+0.84%)
  • Bitcoin Cash (BCH) $209.29 (-2.07%)
  • Litecoin (LTC) $44.75 (-1.97%)
  • Bitcoin (BTC) $7,405.87 (-1.62%)
Dec 9, 2019 (Monday)
16:11
Blockchain-based social media platform Voice to release public beta in February 2020
14:49
Crypto exchange OKEx to launch options trading this month
13:19
Cryptocurrencies could replace fiat currencies by 2030, says Deutsche Bank
12:52
Crypto Technicals: Major Cryptocurrency Support Resistance Levels
12:52
Crypto Technicals: Major Cryptocurrency Daily Technical Outlook
12:31
Crypto Technicals: XRP/USD halts 4 straight session's of gains, finds stiff resistance at 21-EMA
10:34
Boerse Stuttgart’s cryptocurrency exchange BSDEX opens to all German investors
09:19
Ukraine passes final regulatory law for anti-money laundering; Taps Belarus exchange for more regulatory expertise
08:31
Crypto Technicals: LTC/USD lacks upside momentum, sideways grind likely before next leg lower
08:29
Crypto Technicals: ETH/USD holds above 5-DMA, 'Golden Cross' on hourly charts keeps scope for upside
05:29
Crypto Technicals: BTC/USD shows bullish signs on intraday charts, break above 21-EMA will open upside
04:39
Microsoft unveils blockchain token and data management service
04:03
Securitize acquires Japanese blockchain consultancy firm following backing from SBI Investment
03:21
Kadena blockchain to track CBD oil in partnership healthcare-focused tech firm
03:13
Bank of China lends $2.8B to SMEs using own blockchain-based bond issuance system
Dec 8, 2019 (Sunday)
10:32
Investment group acquires green light from the SEC for Bitcoin Futures fund
10:16
SEC taps British court to acquire deposition from former Telegram chief investment advisor
Dec 6, 2019 (Friday)
13:25
Crypto Technicals: Major Cryptocurrency Support Resistance Levels
13:24
Crypto Technicals: Major Cryptocurrency Daily Technical Outlook
11:19
Crypto Technicals: LTC/USD extends sideways, finds strong support at 42.45 (Trendline)
Subscribe to the TokenPost newsletter!
Don't show me this again today.
Back to top
Copyright ⓒ TokenPost. All Rights Reserved.
PUBLISHsoft