Isle of Man open to accepting Bitcoin for tax payments: "It was a relatively simple decision to take"

Isle of Man's benevolence to Bitcoin is moving to the next level. Chris Corlett, chief executive of the department of economic development, announced that residents could soon be able to pay “everything from your car tax to your income tax bill” with Bitcoin:

“There is an evolution here, given what we've learned about digital currencies in the last year, it was a relatively simple decision to take.”

This, despite the fact the banks appear to be less accommodating. Prior to last week's Bitcoin conference on the island, Capital Treasury Services (CTS) said that its partner bank closed its account, allegedly because of the bitcoin transactions flowing through it. CTS acts as a treasury service and had provided a link between bitcoin businesses and banks.

The bank in question, whose identity remains to be clarified, may be based abroad and therefore less likely to incline itself toward the island's more accommodating policies.

“There is an evolution here, given what we've learned about digital currencies in the last year, it was a relatively simple decision to take.”

The bank in question, whose identity remains to be clarified, may be based abroad and therefore less likely to incline itself toward the island's more accommodating policies.