“The city commission in Vicco is set to consider whether to begin paying the police chief’s salary in the virtual currency Bitcoin. Chief Tony Vaughn made the request during the commission’s regular meeting last week, explaining under his proposed arrangement the city would take out all applicable taxes from his salary as normal, and then convert the take-home pay to Bitcoin, which is then transferred instantly to Vaughn. City Attorney Lori Reynolds also noted the logistics of setting up such as transaction with the city, a heavily regulated government entity, paying an employee with an unregulated currency not yet recognized by the federal government.”
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