by: Daniel Marin
Posted: / Updated:
AUSTIN (KXAN) — Austin city leaders are interested in letting people pay with cryptocurrency.
At its March 24 meeting, the Austin City Council will consider a pair of resolutions on the topic put forward by Mayor Steve Adler and Council Member Mackenzie Kelly.
Kelly’s resolution would direct the city manager to conduct a “fact-finding study” to develop policies that would allow the City of Austin to accept Bitcoin and other cryptocurrencies as payment for municipal taxes, fees, and penalties.
The resolution points to cities such as Miami and New York, which have researched using digital currency in the same way along with payment of employee salaries.
Adler’s proposal would push the creation of blockchain technologies that could be applied to a wide array of city services and functions regarding payment processing, smart contracts, fundraising, and arts and music.
The mayor and Kelly were joined by members of the tech industry at a news conference Thursday where they highlighted Austin’s efforts to compete in the emerging digital arena.
“We want to be part of the cities that are thinking big and bold and attracting talent,” Adler said.
This is a developing story. Check back for updates.