RATE Group | Richmond Hill to become second Canadian city to accept cryptocurrency for property tax p…
57970
post-template-default,single,single-post,postid-57970,single-format-standard,ajax_fade,page_not_loaded,,qode_grid_1300,side_area_uncovered_from_content,footer_responsive_adv,qode-content-sidebar-responsive,qode-child-theme-ver-1.0.0,qode-theme-ver-13.3,qode-theme-bridge,wpb-js-composer js-comp-ver-7.9,vc_responsive
 

Richmond Hill to become second Canadian city to accept cryptocurrency for property tax p…

14 Aug Richmond Hill to become second Canadian city to accept cryptocurrency for property tax p…

Posted at 00:29h in Cryptocurrency News by

[ad_1]

Richmond Hill residents are expected to be able to pay property taxes in Bitcoin as an alternative payment method in 2020.

City staff will hold discussions in the coming weeks to enter into an agreement with Coinberry Limited, a Toronto-based digital crypto platform, enabling residents and businesses to pay with Bitcoin and convert it to Canadian dollars before transferring it to the city.

It will make Richmond Hill the second Canadian city to offer the payment option after Innisfil, which approved a one-year cryptocurrency pilot project earlier in March.

There wasn’t a time frame for offering the service in Richmond Hill.

“For Richmond Hill residents, it means they have another option to pay their property taxes. It increases our service without any risk or cost to the city,” wrote Deputy Mayor Joe DiPaola, who put forward the motion at a council meeting July 9.

Currently, the city accepts property tax through online payments via banks, cash and cheques in person or by mail,…

[ad_2]

Source link

Tags:
, , , , , , ,