Congressman from Ohio introduces bill to allow federal tax payments in bitcoin

Representative Warren Davidson (R-Ohio) introduced the Bitcoin for America Act, which would permit individuals and businesses to pay federal taxes using Bitcoin (BTC) without triggering capital gains tax. The proceeds from these payments would be directed to the proposed U.S. Strategic Bitcoin Reserve. Davidson argues this move would modernize financial systems, strengthen the U.S. economy by accumulating an appreciating asset unlike the depreciating dollar, and position the nation as a leader in digital assets. Conner Brown of the Bitcoin Policy Institute praised the bill, noting it creates a "democratic, market-driven model for national bitcoin accumulation" by allowing voluntary contributions through tax payments. This legislation comes as the White House and Treasury Department deliberate on establishing the Strategic Bitcoin Reserve, which was authorized by an executive order but requires congressional intervention for full implementation.

(Source：CoinDesk)