Some City Council members want to look into cryptocurrency as a way to pay taxes, city bills.
are bringing two resolutions to the Council meeting today, March 24, asking staff to explore the potential use oftechnologies for a variety of official city of Austin uses. The proposals, which were posted on the Council message board two weeks ago, have been met with skepticism among members of the Austin community that have not already bought into the crypto/blockchain/Web3 hype – including from the local tech community.
Rosenthal's skepticism is shared by several council members who voiced their concerns at Tuesday's work session, March 22."At this point, given its relatively recent entry into [the tech sector] I am really cautious about the city adopting or using it," CMsaid in reference to Adler's blockchain resolution, though she was equally concerned about the city lending its imprimatur to cryptocurrencies.
Both resolutions are purely exploratory in nature, a point emphasized by both Adler and Kelly in response to pushback from their colleagues. The most recent draft of Adler's resolution directs staff to"create an environment within city government and in the community generally that supports the creation and development of new technologies," including Web3 and blockchain technologies.
, as a way to pay for"municipal taxes, fees, and penalties" and improve the delivery of municipal services, as well as what it would take to allow the city to accept donations in the form of crypto."I pushed back at some of the people in the community that are trying at this point to turn it into a debate about ... adopting these technologies for particular uses," Adler said during the work session.
Ireland Latest News, Ireland Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Crypto Digital Asset Funds - An Easy Way Into Crypto Investing For Family Offices?There’s more to crypto investing than simply buying coins and for family offices considering this move numerous yield opportunities and strategies exist.
Read more »
Law Decoded: Crypto taxes and taxes on crypto, March 21–28.Some jurisdictions are introducing digital assets as tax payment options while others levy hefty taxes on crypto gains.
Read more »
Exploring Crypto Fundamentals with Josh Swigart on The HackerNoon Podcast | HackerNoonUtsav Jaiswal chats with Crypto Analyst and Twitter Influencer Josh Swigart (aka BlocksNThoughts) about Josh’s thoughts on Bitcoin, NFTs, DeFi, and more.
Read more »
British Crypto Investment Firm Launches Avalanche, Cosmos, Polygon ETPsCrypto ETP issuer, ETC Group has launched three crypto exchange-traded products that track the price of Avalanche (AVAX), Cosmos (ATOM), and Polygon (MATIC).
Read more »
Pi Network: Where the 'Mining' Never Stops - and Looks Like It Never Will! | CoinMarketCap.CMCAlexandria takes a deep dive into Pi Network, a dubious crypto project promising to be the future of crypto. Find out how millions of users have been 'mining' these 'coins' every day for the past 3 years! 🤫 Author: TheCoinPope1 PiNetwork BTC
Read more »
Creating a Print-on-demand Crypto Merch Store: An Interview with Queenie From Red Pill Products | HackerNoonAndrei R from Crypto Fireside talks to female founder Qu33n Vic70ria from Red Pill Products a start-up crypto apparel store focusing on privacy projects...
Read more »