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Toronto councillor wants staff to report on using cryptocurrency for tax, ticket payments

Click to play video: 'Norm Kelly wants city staff to look into incorporating cryptocurrency' Norm Kelly wants city staff to look into incorporating cryptocurrency
WATCH ABOVE: Councillor Norm Kelly wants City of Toronto staff to report to city council on the possibility of using cryptocurrency to pay for taxes and tickets – Jan 15, 2018

Councillor Norm Kelly says he wants City of Toronto staff to look into the possibility of allowing residents to pay for municipal taxes, utilities and tickets using cryptocurrency.

“The more I thought about the city of Toronto – one of the premier cities of the world, a city that not only welcomes innovation but promotes it – what better way to look at it in more detail…(and) ask the city hall financial guys to see how City Hall can get involved in it,” he said.

“It could be a cheaper, less expensive way to pay bills … You can buy things. You can do all the things that we do right now with money … but this time it’s digital.”

Kelly said his interest around cryptocurrency piqued after reading headlines involving Bitcoin.

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“There was always some reference, every day, to either Bitcoin or cryptocurrency,” he said.

“So I began to discuss it in a very general way with my followers … and their input came from all sorts of directions.”

READ MORE: Bitcoin’s profitability dwarfed by cryptocurrency rivals Ripple, Ethereum

Kelly admitted he’s not an expert on cryptocurrency. But he said the more people learn about it, the more it can become a benefit.

“I’d rather be ahead of the curve than behind it,” Kelly said.

“Let’s embrace it, let’s explore it and let’s hopefully have everyone profit by it.”

Kelly’s motion will be considered by city council in January. The motion asks for staff to report back by the middle of the year.

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