• Home
  • NFT
  • Bitcoin
  • Events
  • Contact
    • Contact
    • Our Journalists
    • About Us
    • Partners
Tuesday, August 16, 2022
No Result
View All Result
Our Bitcoin News
  • Home
  • NFT
  • Bitcoin
  • Events
  • Contact
    • Contact
    • Our Journalists
    • About Us
    • Partners
  • Home
  • NFT
  • Bitcoin
  • Events
  • Contact
    • Contact
    • Our Journalists
    • About Us
    • Partners
No Result
View All Result
Our Bitcoin News
No Result
View All Result

Jackson City to offer crypto payroll conversion option next year

News
by Damien Martin
21 December 2021
Jackson City to offer crypto payroll conversion option next year
Share on FacebookShare on Twitter

City of Jackson, Tennessee, USA will soon become the first city in the country to allow city employees to convert their salary into cryptocurrencies, local media “Jackson Sun” reported Sunday.

Meanwhile, the city cannot hold cryptocurrencies on its balance sheet as per state laws. Consequently, it will start recruiting third-party companies that support the payroll conversion from December 22.

Thereafter, an expert committee will review the request for proposals (RFPs) by February 2022. The committee will likely make a recommendation to the city council in February, City Mayor Scott Conger said while announcing the move.

Plans to consider offering crypto payment conversion were first discussed in April 2021. At the time, Mayor Conger mentioned in his official Twitter account that he plans to introduce Bitcoin (BTC) into the city’s finances. He noted in May:

“It’s so refreshing to hear governments discussing different ways to finance things, besides ‘we’re going to raise your property taxes,’ or ‘we’re going to implement this fee.’ If we can find another way to do it, then that’s what we’re going to do.”

Jackson City currently allows its employees to access a deferred compensation opportunity for their retirement.

The city mayor has become the latest US official to receive his salary in Bitcoin after the Mayors of Miami and New York City announced the same.

Previous Post

Polygon secures 99.3% votes in favor for Uniswap v3 contract deployment

Next Post

JP Morgan to help Siemens develop new blockchain payments system

Damien Martin

Damien Martin

Damien has a rich history in the fintech and business reporting world. He is currently working at OBN to cover the most important news from the blockchain industry.

Related Posts

Shiba Inu Price Prediction

by Damien Martin
3 August 2022

Shiba Inu has had an eventful 2021. To simplify the latest SHIB price prediction, we have divided up the prediction by short term Shiba...

New bipartisan bill seeks to make CFTC official cryptocurrency regulator

New bipartisan bill seeks to make CFTC official cryptocurrency regulator

by Gauri Bhatia
29 April 2022

Some US bipartisan lawmakers have submitted a bill that seeks to foster innovation in the cryptocurrency space and build a...

Animoca Brands establishes joint venture with OneFootBall following $300M round

Animoca Brands establishes joint venture with OneFootBall following $300M round

by Gauri Bhatia
29 April 2022

Hong Kong-based Web 3 giant Animoca Brands has now formed a strategic joint venture with OneFootball, Football news and media...

No Result
View All Result

Recent Posts

  • Shiba Inu Price Prediction
  • Understanding the Tokenomics of ZNT: DeFi protocol Zenith’s official token
  • Huobi Incubator kicks off Web3 Hackathon to foster next generation of Web3 start-ups
  • Huobi Incubator concludes BeWater DevCon 2022 encouraging dialogue amongst developer communities
  • Huobi Global and PrimeEarn provide one of the best experiences and profits
Our Bitcoin News

© 2021 Our Bitcoin News

Navigate

  • Home
  • Press Release
  • Sponsored
  • Our Journalists
  • Advertise
  • Editorial Policy
  • Privacy Policy
  • Terms & Conditions

Follow Us

No Result
View All Result
  • Home
  • NFT
  • Bitcoin
  • Events
  • Contact
    • Contact
    • Our Journalists
    • About Us
    • Partners

© 2021 Our Bitcoin News