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North Carolina Introduces Bill to Allow Digital Assets in Tax Payments

  • North Carolina has introduced the Digital Asset Freedom Act, a bill that aims to allow the use of digital assets in tax payments.
  • The bill establishes criteria for eligible digital assets, including market capitalization, trading volume, proven history, security and censorship resistance, and decentralization.
  • The introduction of this bill is part of North Carolina's growing efforts to integrate cryptocurrencies into its economy, with previous bills focusing on investment authority and allowing the State Treasurer to invest in Bitcoin.
  • If passed, the Digital Asset Freedom Act could set a precedent for other states to regulate and integrate digital assets into their financial systems, potentially encouraging further adoption of cryptocurrencies.

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