Gold Coast (Australia) mayor Tom Tate did not rule out that in the future residents may be able to pay taxes on digital assets. This ABC News writes.

“If the risk is low, why can’t you pay tax in cryptocurrency? Volatility isn’t that bad. […] We are innovative. […] We are always looking to the next level.” said the official.

The mayor announced that the council plans to hire a chief investment officer to “promote innovation.”

The announcement was made shortly before the budget was adopted for Australia’s sixth largest city, home to 679,000 inhabitants.

In 2020, Tom Tate was nominated for a third term.

Blockchain Australia’s Adam Poulton noted that the board needs to analyze risk appetite before deciding whether to accept cryptocurrency as payment.

“The last thing they want to do is tax the equivalent of $2,000 in bitcoin and see its price halve.”expert explained.

Recall that the authorities of Rio de Janeiro announced the possibility of paying taxes in bitcoin since 2023.

Prior to that, Miami officials made a similar attempt.