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The representative of the American Congress, Warren Davidson, proposed a bill that could make changes to the system of paying taxes to the state. His idea, embodied in the Bitcoin For America Act, is to allow the use of cryptocurrency for settlements with the federal budget.

This proposal creates all the conditions for bitcoins to be legally accepted as payment of federal taxes. According to the draft, all bitcoins received from taxpayers will be sent to a special government crypto reserve under the control of the US Treasury Department. This is a completely new approach, because now the state receives cryptocurrencies mainly through confiscation during court proceedings.

The implementation of this law in practice will entail the need to create a special technical platform to securely store and manage digital assets. In order for budget revenues to remain stable, despite the surges in cryptocurrency exchange rates, it is necessary to develop detailed conversion rules. Therefore, they are going to actively cooperate with the US Internal Revenue Service and other relevant authorities.

Of course, in order for all this to work, you will have to work on technical and legal issues. But if everything works out, it can become an example for the whole world of how to build a financial system in the era of the crypt, which increasingly affects the global economy. This will pave the way for the recognition of digital money at the state level.