North Carolina is thinking about letting you pay your taxes with Bitcoin. Or, well, *a* Bitcoin. Or maybe Ethereum. It’s complicated. Representative Neal Jackson tossed a bill – House Bill 920, the Digital Asset Freedom Act – into the hopper, and suddenly, the idea of settling up with the state using crypto isn’t so far-fetched. It’s a bit like paying with bottle caps, only these bottle caps sometimes cost more than a car.
- North Carolina is considering allowing tax payments with certain cryptocurrencies that meet strict criteria.
- Several bills are circulating in the state legislature exploring cryptocurrency investments for state pension funds and Bitcoin for the State Treasurer.
- The state’s interest in crypto may be influenced by the return of Donald Trump, a known crypto enthusiast, to the White House.
The bill doesn’t exactly scream “Bitcoin!” or “Dogecoin!” It’s more…vague. To qualify as acceptable payment, a digital asset needs to be a heavyweight – at least $750 billion market cap and $10 billion in daily trading. That weeds out a lot of the smaller players. Think of it as a velvet rope for cryptocurrencies. It also wants ten years of history, security, and a distinct lack of central control. No pre-mining, no insider deals, just…decentralization. Which, let’s be honest, is a pretty big ask in this space.
State Investments and the Trump Effect
This isn’t North Carolina’s first rodeo with crypto. Two other bills – House Bill 506 and Senate Bill 709 – are already floating around, suggesting the state might invest up to 5% of pension funds in cryptocurrencies. And then there’s House Bill 92 and Senate Bill 327, specifically eyeing Bitcoin for the State Treasurer. It’s a flurry of activity, and it’s hard to ignore the timing. With Donald Trump, a known crypto enthusiast, back in the White House, states are starting to take notice. It’s a little like everyone suddenly remembering they might like a boat when the captain is known for sailing.
But here’s the thing: even if these bills pass, it doesn’t mean your tax payments will be accepted in Shiba Inu tomorrow. The criteria are high, and the market is…well, volatile. A $750 billion market cap is a serious commitment. Bitcoin currently meets that requirement, but things can change faster than you can say “blockchain.” It’s a bit like building a house on sand – you can do it, but you better have a really good foundation.
The whole thing feels a little bit like North Carolina is trying to position itself as a crypto-friendly state. Which, in a world where other states are still figuring out whether Bitcoin is a currency or a collectible, isn’t a bad idea. It’s a gamble, sure, but sometimes you have to roll the dice to see what happens. And who knows? Maybe one day, paying your taxes will involve a little bit of digital magic.
It’s also worth noting that The Block, the source of this information, has some interesting financial ties. Foresight Ventures is a major investor, and they invest in other crypto companies. Bitget is also in the mix. It’s all very…interconnected. But The Block insists they’re still independent, delivering objective information. Which is good. Because in the crypto world, objectivity is a rare and valuable commodity.
