CRYPTO MADNESS IN NORTH CAROLINA: A BILL TO BOLSTER DIGITAL CURRENCY USAGE!
SHOCKING NEW LEGISLATION LETS YOU PAY TAXES WITH BITCOIN!
In an electrifying move that has everyone buzzing, North Carolina lawmakers are rolling out a revolutionary bill that could let citizens use cryptocurrency for their economic transactions—including the dreaded tax payments! That’s right, folks! If House Bill 920 gets the green light, we’re looking at the jaw-dropping North Carolina Digital Asset Freedom Act!
IS THIS THE FUTURE OF MONEY?
Spearheaded by the fearless State Representative Neal Jackson, this bill isn’t just wishful thinking. According to the bold claims in the proposal, the General Assembly believes that when digital assets are properly regulated, they can be a stable and secure way to exchange value! But hold on; there’s a catch—these crypto assets have to jump through some serious hoops!
ONLY THE STRONGEST CRYPTO WILL SURVIVE!
Under this bill, not just any digital coin can be waved through the tax gate. You want to use your crypto? It better meet some strict criteria! The asset must have a whopping current market cap of at least $750 BILLION and a jaw-dropping daily trading volume surpassing $10 BILLION! And guess what? It must be listed on multiple regulated U.S. exchanges to even be considered!
BITCOIN REIGNS SUPREME—FOR NOW!
Right now, the only contender that meets these hefty demands is the legendary Bitcoin (BTC) itself, crushing it with a market cap of $1.6 TRILLION and a daily trading volume that hits a staggering $45 BILLION! Sorry, Ethereum! The second biggest player in the game can’t even come close with its paltry $188 billion market cap and $20 billion daily trading volume!
ARE THE GREENS JUST THE BEGINNING?
But don’t throw in the towel just yet! While the bill currently favors Bitcoin, there’s potential for other cryptocurrencies to rise up and meet these monumental requirements! Who knows what the crypto landscape will look like down the line?
THE RIGID RULES OF THE GAME!
Not only do these crypto assets need to boast serious liquidity and market depth, but they must also have been operating in a completely open market for a decade, without any government hand-holding or shady backdoor deals! We’re talking about tokens that launched without pre-mining or central authority—sounds like a wild dream, right?
Here’s the kicker: these digital coins must be deemed a commodity, no frail securities allowed! That means they need the thumbs-up from serious regulators like the U.S. Securities and Exchange Commission and the Commodity Futures Trading Commission!
THIS IS JUST THE BEGINNING!
And for those of you who thought this was a lone crusade, buckle up! North Carolina is not stopping here! Recent proposals are also in the works to allow an independent investment authority to inject 5% of pension funds into the roaring world of digital assets, which includes cryptocurrencies, stablecoins, and even NFTs!
NORTH CAROLINA IS READY TO ROLL WITH CRYPTO!
This bill represents a thrilling leap into the future of finance! Will North Carolina become the beacon of crypto freedom in the U.S.? Keep your eyes peeled—this is a story that’s just getting started!
