Idaho Gov Candidate Promises to Scrape off Gains and Taxes for Bitcoin Users

Key Takeaways: 

  • Democratic Governor candidate Dave Reilly announces to make Bitcoin as a safety reserve to check uncontrolled money printing.
  • He further went to declare that he would abolish capital gains, property and income taxes for Idahoans who use Bitcoin.

Every country and state is attempting to introduce cryptocurrencies into the mainstream. Recently Florida declared that it is making plans to accept digital currencies for payments of taxes. Following its footsteps, a candidate from the state of Idaho, Dave Reilly, has announced that he will “abolish capital gains taxes, property taxes, and income taxes for Idahoans who use Bitcoin.” 

Earlier in January, Jumaane Williams, another Gubernatorial candidate, said he was making plans to stop Cryptocurrency mining. He explained that he was not against the process but wanted companies to do it in a “more climate-friendly way” so that they could preserve a significant amount of electricity. 

However, Democrat Reilly, on his campaign website, has mentioned that he is a supporter of bitcoin. He says that the residents of Idaho will be able to save their wealth using digital currencies, and therefore, he stands for it. 

“In a multi-polar world where the United States Dollar isn’t the only reserve currency, Bitcoin can provide Idahoans with a way to preserve their wealth by avoiding un-checked money printing and irresponsible Fed policy.

I will abolish capital gains taxes, property taxes, and income taxes for Idahoans who use Bitcoin,” says the candidate on his campaign website

This are his election promises:

Election Promises
Election Promises
Shreya Bhattacharya
Shreya Bhattacharya

A journalist & writer exploring new topics every day!

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