The City of Jackson will convert its payroll to cryptocurrency.
According to a local media site, Jackson, Tennessee’s ninth-largest city, is on pace to provide crypto payroll conversion choices for people.
The city Jackson has now issued a request for proposals from firms that will be in charge of converting cryptocurrency.
According to Mayor Scott Conger, the bidding process will begin on December 22. By February, the committee will have examined all proposals:
They’ll probably make a recommendation to the council in February.
Conger argues that owing to regulatory constraints, the city cannot retain Bitcoin on its financial sheet. As a result, the city cannot pay its inhabitants directly in cryptocurrency. Employee salary deductions will be directed to a third party who will buy cryptocurrency.
According to Conger, who has emerged as one of the most crypto-friendly mayors in the United States, the aim is payment diversification. Jackson anticipates attracting businesses that are willing to be paid with Bitcoin.
In October, Miami Mayor Francis Suarez announced his desire to pay government employees in Bitcoin:
I want us to differentiate ourselves as a crypto capital of the United States or of the world.
Conger believes that implementing such a scheme in a large city like Miami would be simpler due to fewer hurdles, but he is not giving up on his crypto goals.
Why not Jackson? Why can’t we do something that can off-set the current economic system that we have?
Conger originally stated his intention to use cryptocurrency in early April. He declared last month that he will convert his salary to Bitcoin, joining Suarez, New York City Mayor-Elect Eric Adams, and Tampa Mayor Jane Castor in doing so.
Patrick
Coincu News
Author
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The City of Jackson will convert its payroll to cryptocurrency.
According to a local media site, Jackson, Tennessee’s ninth-largest city, is on pace to provide crypto payroll conversion choices for people.
The city Jackson has now issued a request for proposals from firms that will be in charge of converting cryptocurrency.
According to Mayor Scott Conger, the bidding process will begin on December 22. By February, the committee will have examined all proposals:
They’ll probably make a recommendation to the council in February.
Conger argues that owing to regulatory constraints, the city cannot retain Bitcoin on its financial sheet. As a result, the city cannot pay its inhabitants directly in cryptocurrency. Employee salary deductions will be directed to a third party who will buy cryptocurrency.
According to Conger, who has emerged as one of the most crypto-friendly mayors in the United States, the aim is payment diversification. Jackson anticipates attracting businesses that are willing to be paid with Bitcoin.
In October, Miami Mayor Francis Suarez announced his desire to pay government employees in Bitcoin:
I want us to differentiate ourselves as a crypto capital of the United States or of the world.
Conger believes that implementing such a scheme in a large city like Miami would be simpler due to fewer hurdles, but he is not giving up on his crypto goals.
Why not Jackson? Why can’t we do something that can off-set the current economic system that we have?
Conger originally stated his intention to use cryptocurrency in early April. He declared last month that he will convert his salary to Bitcoin, joining Suarez, New York City Mayor-Elect Eric Adams, and Tampa Mayor Jane Castor in doing so.
Patrick
Coincu News
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