Main page News, Fintech, Bitcoin, Taxation, UK

The United Kingdom seems to have very positive plans regarding the future of the world’s leading cryptocurrency — bitcoin (BTC). Member of the United Kingdom’s Parliament, Eddie Hughes, truly believes there’s a way of using bitcoin as a payment method for local taxation system.

Eddie Hughes is considered to be a "crypto enthusiast with amateur knowledge."

Hughes believes that implementation of bitcoin as a payment method for business registration may be the brightest example of real crypto usage.

Let us recall that Ohio became the very first U.S. state to accept bitcoin as a payment method for taxes.

“It just feels like it [bitcoin] gets talked about a lot, wherever you go in the UK, and as MPs, we have a duty to understand it,” Hughes said.

In fact, the UK is one of the fewest countries all over the world that stay positive regarding crypto adoption. Previously, for example, UK-based largest e-commerce Flubit.com began to accept over 40 cryptocurrencies.

Eddie Hughes is convinced the real adoption of crypto is being blocked by a lack of info and knowledge.

Earlier, one of the biggest players in the retail sphere, CMC Markets, announced it would support for bitcoin cash (BCH), litecoin (LTC), and ripple (XRP).

The Flubit.com CEO, Bertie Stephens, said that being part of the Flubit.com shopping ecosystem creates demand for a crypto and increases the volume of trading.

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