Eddie Hughes, a conservative politician and member of the UK Parliament, recently advocated for the bitcoin usage in the taxes payment. The idea came after a meeting with the Royal National Lifeboat Institution that recently allowed to receive donations in bitcoin. Another inspiration was the American State of Ohio that is now accepting the taxes payment using bitcoin. The political proposal has noticed by the UK news portal, Express.
The politician claims to be a “crypto enthusiast with amateur knowledge”. However, he says that feels duty-bound to understand this about the topic that is relevant at that moment. Therefore, Hughes emphasizes that ordinary users need to have a simple interface to mass adoption finally happens. Lastly, the politician advocates that even with the cryptocurrencies known issues, they have a great potential.
The recognition of cryptocurrencies by governments
Each year the cryptocurrencies seems to face a new stage of technology maturation. The year of 2017 was characterized by a big bull market and 2018 by the stability of prices. However, in 2019 everything indicates that the institutionalization and regulation will be the strongest topics.
Many governments are creating regulatory process to integrate the cryptocurrencies to his economy. This is the case of Malaysia that recently announced the adoption of a regulatory framework to validate cryptocurrencies and ICOs. Another highlight in 2018 was the approvement of ETP in the SIX Swiss Exchange. The crypto market will be a great opportunity to who is searching for safe and regulated assets to invest in 2019.