Bermuda allows tax payments in USDC, commissions blockchain-based national ID system

If Bermuda Premier David Burt has his way, the country's residents will soon be paying taxes with cryptocurrencyand using blockchains to exchange personal data.

Bermuda today unveiled agreements with Circle and Shyft Network, respectively, to make both possibilities a reality.

Bermuda has been running to the loving arms of blockchain for some time. In April of last year, Burt signed into law a raft of regulations to stimulate the FinTech industry on the island. Perhaps not coincidentally, that same month the country announced a $15 million memorandum of understanding with Binance to fund FinTech and blockchain startups.

The blockchain innovations have kicked up this week. First, Circle, a financial services firm for crypto users and purveyor of the USDC stablecoin, announced it has signed a deal with the Bermuda government that would allow residents to pay taxes, fees, and for some government services using USDC. Read more...

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