A City in Canada to Accept Crypto Assets for Tax After Council Approval, Bolstering Adoption

Following a recent council approval, Canadian City of Richmond Hill will be exploring providing crypto asset property tax payments. Helping to provide the service will be domestic digital currency platform, Coinberry.

The City of Richmond Hill is the second Canadian city to accept cryptocurrency for tax payments. Innisfil in Ontario was the first city to work with the trading platform and announced their own partnership in March of this year.

Paying Property Taxes in Crypto Assets? You Can in Canada

According to a press release from the Canadian trading platform Coinberry, the firm is in discussions with the City of Richmond Hill, Ontario, about providing a crypto asset payment processing solution. The aim is to allow residents and businesses to pay their property taxes using cryptocurrency.

The city council reportedly voted last week on whether to allow tax payments using crypto. It decided in favour of entering into an agreement with the trading platform operator.

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