By enabling taxpayers to use Bitcoin for federal tax payments, we can promote innovation, increase efficiency, and offer more flexibility to American citizens. This is a bold step toward a future where digital currencies play a vital role in our financial system, ensuring that the U.S. remains at the forefront of technological advancement.
The Secretary shall develop and implement a method to allow for the payment with bitcoin of any tax imposed on an individual under this title... regulations that specify when payment by such means will be considered received, require the immediate conversion of any bitcoin amount received to its dollar equivalent at the conclusion of any transaction.
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